MENLO PARK, Calif., June 30, 2021 — OrionX Research today released the sixth edition of its CryptoSuper500 list. The list recognizes cryptocurrency mining as a new form of supercomputing and tracks the top mining pools. Cryptocurrency technologies include blockchains, consensus algorithms, digital wallets, in addition to utility and security tokens. Cryptocurrency mining is a specialized domain of decentralized high performance computing (HPC). This dynamic, highly competitive, and rapidly growing industry has reached nearly $40 billion in annual economic value.
As of May 29th 2021, almost all the produced value is in three coins: Ethereum’s ETH coin, Bitcoin, and Dogecoin. While Bitcoin continues to represent the top spot in mining power, ETH produced the most mining revenue, aided by emerging applications that offer Decentralized Finance (DeFi) or manage Non-Fungible Tokens (NFTs).
“We present an overview of market forces and details of the top 45 pools for Ethereum, Bitcoin, and Dogecoin,” said Dr. Stephen Perrenod, OrionX Partner and Analyst and the developer of the CryptoSuper500. “Trends to watch include advances in ASIC-based and GPU-based mining rigs, the end of Ethereum mining, the trend of increasing electricity usage offset by increases in the green fraction of mining, and bans in certain countries that cause hash rate to move elsewhere.”
Cryptocurrency Supercomputing refers to large-scale cryptocurrency mining operations which are typically powered by accelerator technologies such as GPUs, FPGAs, or custom ASICs. Bitcoin is the most notable of such currencies. Cryptocurrency mining via Proof of Work is important since it represents the most effective consensus algorithm to maximize security in a decentralized manner.
The full list with additional explanation is available at OrionX.net/research.
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Source: Stephen Perrenod, OrionX Research