Summary List Placement
What asset has experienced a 588% surge in the last year? It’s not the S&P 500 stock index or the Nasdaq.
Love it or hate it, bitcoin has topped headlines with its price action, prompting individuals and firms to seek it out in various ways. And in April, the 12-year-old cryptocurrency reached an all-time high above $63,000 before crashing by 50% within months.
Idan Abada was a manager of an online store that sold remote-controlled gadgets such as toy planes and cars before becoming a crypto miner in 2015. He’s now the founder of Bitcoin Merch, an online store that sells hardware for miners.
The store was founded in 2017, a year when his industry may have been considered niche even as bitcoin leapt from $1,000 to nearly $20,000. But today, he’s firmly part of a growing trend: The global cryptocurrency mining hardware market (ASIC hardware and GPUs) is expected to…