Cryptocurrency mining has been one of the most controversial subjects in the crypto space. From the environmental impacts to the problem of illegal miners, crypto-miners have been through a lot in 2021 and 2020. In 2022, the scenario might not be very different. However, regulations around Bitcoin mining might allow for easier operations. At the same time, that will mean the entry of new players into the field. Apart from retail miners, we can expect to see an influx of institutional miners in 2022. Big companies are eying the market for its promise and contributing to both mining and mining-related technologies. A huge amount of money will go into mining equipment research and innovation in 2022. Apart from that, miners will also face increased competition from large companies with more powerful equipment.
In terms of countries with the highest mining activities, Russia and the United States are predicted to lead. The recent political turmoil in Kazakhstan has dealt a blow to the Bitcoin mining industry. However, new countries like Peru can easily take Kazakhstan’s place and offer cheap power sources for mining. Bitcoin mining is increasingly becoming a full-time source of income for people across the world. In 2022, we can expect to see more people committing to mining activities on a full-time basis. As the completion grows, weaker players will find it increasingly difficult to earn any sort of revenue from Bitcoin mining. Keeping these factors in mind, we can expect an interesting Bitcoin mining landscape in 2022.
