people with cheap electricity profit the most. (unless by elite you just mean best/most efficient not necessarily the largest) large miners can better deal with variance in reward time
Speaking 2 efficiency of Capitalist miners who have access to best electricity rates. Luv to hear your & others opinion on this vid from where I side with.
I agree with this too. I would add places with free cooling can also boost efficiency (like heating homes in the far north with miners). Have to also consider expected future value
Really its about converting fiat to crypto efficiently. Could do this at the market (paying a premium at $6.5k) or could mine (more variables but reduced rate ($1-4k/BTC)
Miners might operate at a short term loss now with the expectation of a price rise & their operation will be set up for future profit
