> Bitcoin network hashrate is currently around 550.000TH/s[1]. An asic miner with 4.73TH/s claimed capacity can be bought for $500 [2]. With a budget of less th

> Bitcoin network hashrate is currently around 550.000TH/s[1]. An asic miner with 4.73TH/s claimed capacity can be bought for $500 [2]. With a budget of less than $100M you could have similar capacity as current bitcoin network. The network hashrate is 5 million TH/s and, believe it or not, there aren't a million of these ~$500 devices you mention up for sale. You would have to produce them yourself, with fierce competition. Many have looked at the numbers and thought "I can do that", and when their mining product finally ships, the difficulty has increased by a factor of 10x. Leaving them with 5% network hashrate instead of 50%, because it turned out they weren't the only ones thinking "I can do that".