Mining

As we enter the second half of 2025, centralized exchanges are no longer just intermediaries for matching trades, but are transforming into comprehensive hubs for user assets. This article focuses on the strategic differences among the three major Chinese-language trading platforms - Binance, OKX, and Gate - in terms of ecological integration, on-chain layout, and technological evolution, combining insights from Coindesk and industry data reports to deeply analyze the development logic and future trends of the three. Notably, Gate is reshaping the growth imagination of established platforms with its innovative strategy tools, on-chain asset integration, and unified product experience, becoming a key variable that cannot be ignored in the current cycle.

In 2025, Bitcoin mining will enter an era of competition between capital and energy, discussing how miners respond to cost pressures, equipment upgrades, and geopolitical challenges after the halving, while analyzing emerging trends such as green energy mining and liquidity mining, revealing the future direction of the mining industry.