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The bitcoin <a href="https://ultramining.com/news/en/texas-residents-challenge-bitcoin-mining-industrys-impact-on-power-grid-and-communities/" rel="noopener noreferrer nofollow">mining industry</a> anticipates significant shifts as the upcoming <a href="https://ultramining.com/news/en/heat-waves-and-halving-bitcoin-miners-cash-in-amid-rising-prices/" rel="noopener noreferrer nofollow">halving</a> event in April 2024 will slash miner revenues. Keytom.io shared that this seismic event is expected to reduce the block subsidy, impacting the <a href="https://ultramining.com/news/en/bitcoins-rebound-above-30k-boosts-hashprice-a-4-leap-in-24-hours/" rel="noopener noreferrer nofollow">hashprice</a>, which relates to miner revenue per <a href="https://ultramining.com/news/en/impending-bitcoin-halving-may-trigger-major-hashrate-decline-say-experts/" rel="noopener noreferrer nofollow">hashrate</a> unit, according to <a href="https://twitter.com/keytomcom/status/1720080805689725300" rel="noopener noreferrer nofollow">keytom</a>. The <a href="https://ultramining.com/news/en/heat-waves-and-halving-bitcoin-miners-cash-in-amid-rising-prices/" rel="noopener noreferrer nofollow">halving</a>, influenced by bitcoin price, mining difficulty, and transaction fees, looms as a critical juncture for the sector.
A staggering 20-25% of Bitcoin's <a href="https://ultramining.com/news/en/impending-bitcoin-halving-may-trigger-major-hashrate-decline-say-experts/" rel="noopener noreferrer nofollow">hashrate</a> may go offline post-halving due to revenue cuts. Despite the <a href="https://ultramining.com/news/en/pennsylvania-a-new-hub-for-cryptomining-ignites-environmental-concerns/" rel="noopener noreferrer nofollow">United States</a> currently contributing to 45% of the global hashrate, Jaran Mellerud forecasts high growth potential in regions with low <a href="https://ultramining.com/news/en/crypto-mining-with-flare-gas-a-green-solution-or-environmental-setback/" rel="noopener noreferrer nofollow">electricity</a> costs. Frontier markets like Africa, South America, and Southeast Asia could become new hubs for bitcoin mining activities.
The competitive nature of the industry, coupled with the halving challenge, will compel miners to seek these lower-cost regions for sustainability and growth. Prospective miners receive advice to enter the market only with access to very cheap <a href="https://ultramining.com/news/en/crypto-mining-with-flare-gas-a-green-solution-or-environmental-setback/" rel="noopener noreferrer nofollow">electricity</a>. The industry's cyclical nature further suggests that the current low investment period is opportune for strategic entries into the market. These insights, offered by industry expert Jaran Mellerud, highlight the evolving landscape of bitcoin mining and the strategic pivots necessary for future success.

Bitcoin Mining Braces for Halving Hurdle, Eyes Frontier Markets for Growth

Ultramining_Eng

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