Not All Miners are Created Equal. Comparing Bitcoin and Ethereum Mining Activity by the Numbers
These analytics clearly show some tangible differences between Bitcoin and Ethereum mining activity.
Mining behavior is one of the most under-analyzed areas of crypto. We all understand that miners are an important part of the crypto ecosystem but I think we intuitively assume that miners behave similarly and have the same impact in different crypto assets which couldn’t be further from the truth. The result of this misconception is based on the fact that most mining analysis to this day has been focused on Bitcoin and there are very little insights about mining activity in other blockchain runtimes. Once you start comparing mining data from different blockchains and crypto assets and differences are astonishing.
Earlier this week. IntoTheBlock release a series of mining indicators for a large number of crypto assets. This will allow you to not only derive insights about the behavior of miners in a specific crypto asset but also understand the differences with the rest of the market. To illustrate this point, let’s look at a few key mining indicators for Bitcoin and Ethereum in 2021 and see what the comparison shows.
