As the cryptocurrency space has evolved, so has the industry and economics of Bitcoin mining. Jamie Leverton is the CEO of HUT8, one of the largest Bitcoin mining operations. She joined Roundtable at the BattleFin conference to talk about her company and Web3. In this segment, she discusses the evolution of the mining sector and what's in store.
Leverton notes that the sector has grown enormously in recent months.
“There used to be a handful of us," she says. "Over the last year, there's now 30 publicly traded miners in North America. So it’s getting to be quite a crowded space."
She also expects that growth to slow down soon, however.
“Now we're in a more difficult market conditions,” she says. “I think we'll probably see some consolidation as things shake out a little bit."
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She notes, "Mining margins are compressed now, versus where they were a year ago when a number of these projects kicked off.”
Watch the full discussion below:
Jamie Leverton, CEO, HUT8