Bitcoin mining is getting more surreal the more you look at it—the so-called decentralized revolution people once shouted about has now turned into a centralized money-printing business.

To put it plainly, here’s the story: a group of idealists initially called for breaking monopolies and promoting equality for all, but as things went on, they became the new monopolists themselves, using “technological progress” as a fig leaf.

**The CPU Era: The Ideals We Once Chased**

In the early days, you could mine with a home computer; that was truly “everyone can participate.” Back then, anyone could contribute computing power, and anyone had a chance to mine coins. But how long did that beautiful scene last? As soon as the first specialized mining machines appeared, ordinary people’s computers were instantly crushed in terms of computing power. The so-called equal participation rights proved as fragile as paper in the face of a hardware arms race.

**ASIC Miners: The Accelerator of Hashrate Centralization**

From Butterfly Labs to Whatsminer, every hardware iteration reinforced one fact—mining is becoming a capital-intensive industry. Now, just a few major mining pools control most of the network’s computing power. When these giants sneeze, the whole network shakes. The very tool that was supposed to fight centralization has now become the most centralized entity itself. Ordinary people? They’ve long been downgraded from participants to mere spectators.

**Public Mining Companies: The Most Surreal Plot Twist**

What’s even more ironic is that mining companies like Marathon and Riot have gone public on the US stock market, using Wall Street money to buy mining rigs in bulk, then selling the mined coins to retail investors. Bitcoin, which was supposed to disrupt the traditional financial system, has ended up as traditional capital’s favorite cash flow instrument. This kind of plot twist—even screenwriters wouldn’t dare to write it.

**The Essence Is This:**
Mining started out like an open kitchen, where everyone could throw in some ingredients and cook together. Now? The kitchen has been leased out to a handful of top chefs. They use industrial equipment to monopolize the entire process, and you can only pay to buy the finished dish—while being told to thank them for “making the technology more advanced.” You’re no longer a co-creator; you’re just a paying customer.

Don’t kid yourself. The security of the Bitcoin network has long ceased to have anything to do with ordinary people—it’s a playground for capital and mining giants. To those still researching the latest mining rig performance, I wish you a speedy ROI—if your electricity bill allows.

(This article is just a personal opinion and does not constitute investment advice. The crypto market is extremely risky; participate with caution.)