Recent research by BitMEX has brought to light increasing worries over the centralisation of Bitcoin (CRYPTO:BTC) mining operations.
According to the study, which draws upon analysis from Bitcoin expert Alex Bergeron, it appears that a solitary entity now dominates the Coinbase outputs for nearly 47% of the entire network's hashrate.
This substantial share indicates a worrying trend toward oligopoly in the Bitcoin mining sector, highlighting a shift from the decentralised ethos upon which the cryptocurrency was founded.
The findings underscore the need for greater scrutiny and perhaps action to ensure that Bitcoin remains a decentralised and secure digital currency, free from the control of a few dominant players.