Mostly gone are the days of smaller bitcoin miners not having to worry about competing with data center behemoths.

As miners evaluate the competitive landscape, some are discovering a desire to merge — whether it's solicited or not. Most notably, Bitfarms recently adopted a "poison pill" to rebuff an unsolicited buyout offer from mining competitor Riot Platforms.

Whether that consolidation is likely to continue depends somewhat on the options available for those getting into mining.

Pow.re, a company spearheaded by Co-Founder and CEO Mike Cohen, is looking to reshape the winner-take-all dynamic. In a recent discussion with Roundtable anchor Rob Nelson, Cohen delved into the dynamics of the industry, addressing its evolution and future prospects. The conversation highlighted the transition from small-scale mining operations to large, publicly traded companies and the unique opportunities that bitcoin mining presents.

Nelson began by reflecting on the significant changes within the mining industry, noting its progression from hobbyist setups to large-scale enterprises. Mike Cohen reminisced about his own journey, starting in his basement and witnessing the industry's growth firsthand. He pointed out the inevitable consolidation within the sector, likening it to other industries where large entities often dominate.

However, Cohen emphasized that bitcoin mining stands apart due to its international nature. He explained that the global distribution of mining operations allows smaller, independent miners to coexist with larger conglomerates. This diversity, he argued, is crucial for the industry's health and resilience. Cohen highlighted that bitcoin’s permissionless system allows anyone with the capital and know-how to participate, creating a unique competitive landscape.

Nelson questioned whether the future of mining would see a stark divide between small independents and large corporations. Cohen responded by highlighting the flexibility and efficiency that small-scale miners can achieve, especially in regions where they can provide essential energy infrastructure. He stressed that profitability in mining is not solely determined by scale but by strategic operations and resource management.

To make mining more accessible, Pow.re is working on introducing derivative contracts and delivering hash rate to buyers. This innovation aims to lower the technical and financial barriers for individuals who want exposure to mining exposure without managing extensive infrastructure.