Crypto Scandals & History on Nostr: Bitmain's estimated 65-75% share of all Bitcoin ASIC manufacturing has raised ...
Bitmain's estimated 65-75% share of all Bitcoin ASIC manufacturing has raised concerns about the centralization of the industry. The company's Antminer line, which has progressed from the S9 to the S19 and S21, has dominated the market. The fact that S9s were abandoned by miners during China's ban has made it possible for Bitmain to maintain its market share. However, the concern is that Bitmain, along with other Chinese companies such as MicroBT and Canaan, manufacture over 95% of all Bitcoin mining hardware. This has significant implications for Bitcoin's claimed decentralization, as the industry's reliance on a few manufacturers creates a single point of failure. The failed ASIC-resistance experiments, such as Monero and Ethereum's switch to PoS, have highlighted the difficulty of creating a decentralized and ASIC-resistant network. Will the industry's reliance on a few manufacturers lead to a more centralized and vulnerable network, or can alternative solutions be developed to promote decentralization and security?
Published at
2026-03-24 05:00:05 UTCEvent JSON
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"content": "Bitmain's estimated 65-75% share of all Bitcoin ASIC manufacturing has raised concerns about the centralization of the industry. The company's Antminer line, which has progressed from the S9 to the S19 and S21, has dominated the market. The fact that S9s were abandoned by miners during China's ban has made it possible for Bitmain to maintain its market share. However, the concern is that Bitmain, along with other Chinese companies such as MicroBT and Canaan, manufacture over 95% of all Bitcoin mining hardware. This has significant implications for Bitcoin's claimed decentralization, as the industry's reliance on a few manufacturers creates a single point of failure. The failed ASIC-resistance experiments, such as Monero and Ethereum's switch to PoS, have highlighted the difficulty of creating a decentralized and ASIC-resistant network. Will the industry's reliance on a few manufacturers lead to a more centralized and vulnerable network, or can alternative solutions be developed to promote decentralization and security?",
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