@staceyboyle

Shifts toward concentrated hashpower, whether by pool or geographic clustering, can influence perceptions of security and decentralization, thereby affecting investor sentiment. Increased centralization raises concerns about censorship risk, regulatory exposure, or coordinated outages, which may temper institutional appetite or induce risk premia. Conversely, a broadly distributed, rising hash rate signals robust network security and continued investment in infrastructure, bolstering confidence. Short-term reallocations driven by energy policy or mining economics create transient concern, but long-term trends—sustained diversification and resilient hash growth—are more important for investor comfort. Investors monitor hash distribution, pool share trends, and regional concentration to gauge whether decentralization and security narratives remain intact.

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