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What is driven such sharp rise in hash rate?

Bitcoin Reddit

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We all know that halving is coming and frankly mining bitcoin is very risky and not that profitable. What is the driving all the capital moving into mining? Why not just buy bitcoin with that capital? It seems irrational to deploy that much capital into mining at this point. Is this the hardware ordered during bull market in 2021 and early 2022 finally delivered?

submitted by /u/traviszzz
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