Morning Edition · Thursday, July 9, 2026Published at 1:44 AM EDT · New York
Post-halving margin compression and rising difficulty are squeezing smaller operators, sharpening questions about how decentralized the network's block production really is.

The Bitcoin mining industry has divided into a two-tier market, with hashrate consolidating among the largest pools while smaller miners absorb the pressure, according to a CryptoSlate analysis. The report attributes the shift to conditions…
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