Last weekend, MinerUpdate, a crypto mining media platform founded in April, hosted its inaugural "Global Mining Leaders Summit" in Chengdu—dubbed the "New Mining Capital." The event brought together industry heavyweights like Bitfury, Genesis Mining, and Slush Pool, alongside emerging players such as MineBest and Luxor Mining. Here’s what we learned about the evolving mining landscape.
Key Takeaways from Industry Leaders
1. Bitfury’s Evolution: From "Mining Overlord" to Blockchain Innovator
- Founded in 2011, Bitfury has expanded beyond ASIC chips into blockchain software (e.g., Exonum for enterprises, Crystal for AML compliance).
- Pro Tip for Miners: Focus on long-term energy contracts (5+ years) and green energy sources when expanding globally.
- Greg Li (Bitfury APAC): "Bitcoin is the backbone of crypto, but blockchain’s real potential lies in transforming public services."
2. Genesis Mining’s Survival Strategy: Adapt or Die
- CEO Marco Streng highlights the brutal efficiency of industrial mining, pushing out small-scale miners.
- Post-Halving Prediction: Cloud mining will dominate as hardware costs rise. Genesis targets China with lower-cost solutions than DIY mining.
3. MineBest’s Global Playbook: Decentralize to Mitigate Risk
- Poland-based MineBest leverages geographic diversification (e.g., fast setups in China, cheap power in North America).
- CEO Eyal Avramovich: "Safety and transparency abroad make mining more sustainable than in China’s unregulated gray zones."
4. Slush Pool & Luxor: How Western Pools Compete
- Slush Pool bets on transparency via its Stratum V2 protocol.
- Luxor Mining targets altcoins (e.g., Grin) before entering Bitcoin, emphasizing community engagement.
- Ethan Vera (Luxor): "Chinese miners value relationships; Westerners prioritize brand and UX."
Financial and Research Insights
- FalconX & GSR now offer liquidity tools for miners, bridging primary/secondary markets.
Blockware Solutions’ Bullish Outlook:
- Bitcoin’s 2025 bull run could peak at $50K–$90K (50% probability).
- S9 miners face breakeven at $15,247 post-halving—switch to S17s.
FAQs
Q: Is cloud mining better than owning hardware?
A: Post-halving, yes—cloud platforms like Genesis reduce upfront costs and maintenance.
Q: Which regions offer the best mining conditions?
A: Scandinavia (green energy), North America (cheap power), and Central Asia (low operational costs).
Q: How do Western pools compete with Chinese dominance?
A: Transparency tech (e.g., Stratum V2) and niche altcoin support.
👉 Explore crypto mining opportunities with global leaders
This article synthesizes insights from 8 experts, highlighting trends like industrial consolidation, geographic diversification, and the rise of mining-finance hybrids. Stay ahead by adapting to these shifts.