The biggest cost component of Bitcoin mining is time. No matter how much you increase your hash power, you can only mine it every ten minutes.
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21 sats \ 0 replies \ @kepford 11 Oct 2023
Maybe I'm missing something but this seems inaccurate. Time is a factor but is time a bigger cost than energy or capital?
If you have only two miners competing they would not compete on time. They would compete on hash rate. Bitcoin simply removed time as a means of competition but not even in all ways.
If I'm misunderstanding you please elaborate.
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