Forbes contributors publish independent expert analyses and insights. Korok Ray is a PhD economist/professor who researches/teaches Bitcoin. On the one hand, bitcoin itself is the superior asset ...

The bitcoin mining industry is undergoing the most fundamental transformation in its history, and the clearest sign isn't the hashrate or the difficulty adjustments. It's the balance sheets.

One afternoon in June 2024, I stood up against the fence of a sprawling industrial facility a few miles outside of Corsicana, Texas. Over a metal gate, I watched a bright yellow excavator claw at the ...