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Bitcoin Mining Splits Into a Two-Tier Market

Post-halving margin pressure and rising difficulty keep concentrating hashrate among the largest pools, so mining consolidation recurs as a structural centralization pressure on Bitcoin's security model, squeezing smaller miners out over successive cycles.

forming · confidence 38 · Emerging (watchlist) · tracking since July 9, 2026 · updated July 9, 2026

Why the conviction moved

  • Jul 9
    Strengthened

    Post-halving margin pressure and rising difficulty are concentrating hashrate among the largest pools and pressuring smaller miners, splitting mining into a two-tier market, per the edition.

Source trail

  • Supporting · July 9, 2026

    Bitcoin Mining Splits Into a Two-Tier Market as Pool Power Consolidates

    Post-halving margin pressure and rising difficulty are concentrating hashrate among the largest pools and pressuring smaller miners, splitting mining into a two-tier market, per the edition.

    CryptoSlate

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