Bitcoin (BTC) mining is becoming vastly more decentralized in 2021

Bitcoin (BTC) has become considerably more decentralized in the past year, one metric suggests — and the trend is growing.

According to data from on-chain data resource, hash rate distribution is increasingly favoring small, unknown miners.

Despite the past 12 months seeing a large price run-up, Bitcoin miners have not become more “corporate” — mining is actually seeing more anonymous as small-scale entities join in.

Looking at hash rate distribution, the trend is in evidence ever since the March 2020 crash, and this year has gathered pace.

Continue reading