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JPMORGAN: Bitcoin miners are in a 'hash rate arms race'

Bitcoin mining is becoming more expensive, according to JPMorgan. That's because miners are "currently in a hash rate arms race." Bitcoin miners are in an arms race and it is driving the cost of minting new bitcoin to all-time highs. That's according to a big report on cryptocurrency out Friday by financial giant JPMorgan. Miners are the folks who unleash new bitcoin into the universe by running computationally intensive algorithms on systems called rigs.
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