🅱️47 Out Of Every 100 Bitcoin Mined Stored By One Custodian: Analyst. 🅱️
On-chain analysis now reveals that a single anonymous custodian, believed to be Cobo Custody, plays a crucial role in the Bitcoin network. In a post on X, one analyst said the custodian controls the Coinbase addresses of at least nine mining pools, cumulatively contributing at least 47% of the total hash rate. ✅
This means that for every 100 freshly mined BTC, 47 BTC are sent to this custodian. Concentrating control in one entity raises concerns about the potential risks and the need for transparency and decentralization of custodians among mining pools.✅🔔