I've always wondered if this was the initial point of Bitcoin (making miner harder and harder) how could Satoshi not have foreseen this was would be the inevitable result?
I've read several articles about the power consumption of these mines and it's jaw dropping:
Of course, by the end of 2017, the players who were pouring into the basin weren’t interested in building 5-megawatt mines. According to Carlson, mining has now reached the stage where the minimum size for a new commercial mine, given the high levels of difficulty, will soon be 50 megawatts, enough for around 22,000 homes and bigger than one of Amazon Web Services’ immense data centers.
I've read several articles about the power consumption of these mines and it's jaw dropping:
Of course, by the end of 2017, the players who were pouring into the basin weren’t interested in building 5-megawatt mines. According to Carlson, mining has now reached the stage where the minimum size for a new commercial mine, given the high levels of difficulty, will soon be 50 megawatts, enough for around 22,000 homes and bigger than one of Amazon Web Services’ immense data centers.
https://www.politico.eu/article/this-is-what-happens-when-bi...