In a landscape where Bitcoin mining faces growing challenges, such as the concentration of computing power and the impacts of cyclical halvings, the industry seeks innovations to maintain its resilience.
He hashrate global, which measures the processing power of the network, reached record levels in 2025 driven by advances in hardware and expansion into regions with abundant and cheap energy. Despite the good records, recent events in China are currently reconfiguring this situation, as CriptoNoticias has reported.
Beyond this situation, concerns about centralization in a few dominant pools persist, while the halving from 2024 ha forced an operational restructuring, eliminating inefficient players and promoting professionalization of the sector.
We talked about these topics and more with Alejandro de la Torre, CEO and co-founder of DMND Pool, who currently leads initiatives to decentralize mining through technologies such as Stratum V2.
The increasing concentration of hashrate in pools has generated debates about the health of the Bitcoin network. De la Torre emphasizes the need to differentiate critical nuances in this phenomenon.
«It is crucial to distinguish between the concentration of hashrate (who owns the machines) and the concentration of block template construction (who decides which transactions come in). The second is the real risk of censorship,” he explains.
Historically, pools have controlled both aspects, creating centralized vulnerabilities that could compromise integrity. However, the executive sees a positive horizon thanks to Stratum V2, which DMND has actively adopted.
This technology redistributes power, allowing individual miners make decisions about transactions, while pools are limited to aggregation functions.
The visual concentration on graphics is worrying to the casual observer, but the underlying architecture is becoming technologically decentralized. The future is robust infrastructure where the pool serves the miner, not controls it.
Alejandro de la Torre, CEO of DMND Pool.
This evolution, according to our interviewee, mitigates risks of single points of failure, fostering a more resilient network aligned with Bitcoin’s decentralized principles.
The bitcoin cycle is current, but it is different
Regarding the four-year cycles, marked by the halving that reduce block rewards by half, De la Torre maintains that they are still in force, although with a more mature approach.
“From our industrial and operational perspective, the 4-year cycle is still fully valid, but we no longer measure it by market speculation, but by the cycle of hardware renewal and operational efficiency,” he details.
For institutional miners, he halving acts as a “supply shock” that imposes natural selectionforcing fleets to be updated and costs optimized.
This pattern, according to De la Torre, is divided into three phases: one of purging post-halvingwhere operators with high costs and obsolete equipment leave the market; one of consolidation, with more efficient networks in terms of joules per terahash; and one of expansion, where survivors reinvest.
«Thus, the 4-year pattern is not over; It has simply matured. It is no longer a ‘bubble and burst’ cycle for tourists, but rather a cycle of technological updating and purging of inefficiencies that dictates the pace of the professional mining industry,” explains De la Torre.
This industrial vision highlights how halving They not only affect prices, but they promote innovation and operational sustainability in the sector.
Stratum V2 as a possible push for bitcoin mining in Latin America
Latin America, with its abundance of renewable energy resources, represents fertile ground for mining, but faces obstacles such as remote connectivity.
De la Torre highlights how Stratum V2 addresses these challenges, positioning the region as a global competitor. “At DMND we see Stratum V2 not only as a software improvement, but as a critical piece of industrial infrastructure, especially for markets like LATAM where geography and connectivity present unique challenges,” he says.
Bandwidth efficiency is key in isolated areas, such as hydroelectric plants in jungles or energy facilities in which residual gas is not efficiently used.
Stratum V2, being binary, reduces data consumption compared to the V1 protocol, allowing stable operations.
“This means that a mining farm in Patagonia or the Paraguayan jungle can operate with the same network efficiency as one in Texas, eliminating the geographical disadvantage of latency and stale shares (obsolete miners’ shares or those that arrive at the wrong time)”, explains De la Torre. This optimization levels the field, making the exploitation of underutilized energy in the region viable.
De la Torre’s statements project a future where technology decentralizes power in Bitcoin mining, benefiting emerging regions such as Latin America.