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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-miners-ramp-up-sales-as-block-reward-halving-approaches/" data-wpel-link="internal">Bitcoin Miners Ramp Up Sales as Block Reward Halving Approaches</a> 
According to data provided by leading crypto analysis platform CryptoQuant, some miners have increased their <a href="https://coin-turk.com/bitcoin-guncel-on-chain-yorum-ocak-2024-tahminleri" data-wpel-link="internal">Bitcoin</a> (<a href="https://coin-turk.com/bitcoinde-45-000-dolar-asildi-sirada-hangi-seviyeler-var" data-wpel-link="internal">BTC</a>) sales due to the upcoming block reward halving. In particular, daily sales in over-the-counter (OTC) markets rose to 1,600 <a href="https://en.coin-turk.com/bitcoin-could-collapse-by-46-if-the-us-economy-enters-a-recession-warns-crypto-analyst/" data-wpel-link="internal">BTC</a> by the end of March, reaching the highest level since August 2023. This trend indicates that miners are making strategic moves to take advantage of current market conditions before the block reward halving. 
<h2 style="text-align: justify" id="strong-hashrate-increases-while-price-drops-by-30-percent-strong">Hashrate Increases While Price Drops by 30 Percent</h2> 
Currently, <a href="https://en.coin-turk.com/bitcoins-critical-levels-expert-analysis-and-future-expectations/" data-wpel-link="internal">Bitcoin</a>‘s mining ecosystem is facing additional pressure on profitability due to a significant decrease in transaction fee revenues as the block reward halving approaches. Despite daily revenues reaching new highs, the price for hashrate is about 30 percent lower than the levels observed before the last block reward halving. This means that the earnings per hashrate have significantly decreased, which is affecting miners’ strategies before the fourth block reward halving. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-338177" src="https://coin-turk.com/wp-content/uploads/2024/04/Bitcoin-Hashrate.png" alt="" width="1600" height="859"> 
Among these evolving dynamics, another notable development is the significant increase in the Bitcoin network’s hashrate value, reaching 600 H/s. This increase reflects the growing intensity in the mining ecosystem and indicates increased competition among miners vying for the same BTC rewards. 
As is known, hashrate, measured in hashes per second (H/s), is an important metric indicating the overall computational power dedicated to securing the Bitcoin network. 
<h2 style="text-align: justify" id="strong-miners-prepare-for-the-fourth-block-reward-halving-strong">Miners Prepare for the Fourth Block Reward Halving</h2> 
The Bitcoin network is currently preparing for the historic fourth block reward halving, which is expected to occur on April 19, 2024, and is eagerly anticipated worldwide. The block reward halving will result in a 50 percent reduction in mining rewards. 
With the block reward halving, the amount of BTC miners receive per block will decrease from 6.25 to 3.125 BTC. This reduction potentially corresponds to a 3-7 percent decrease in earnings for active miners. The effects of such a reduction on the network’s dynamics and security are being closely monitored by both industry observers and participants. 
At this point, it’s worth noting that spot-based Bitcoin exchange-traded funds (ETFs) in the US continue to attract interest, acting as a potential mitigating factor against market selling pressure. ETFs offer both institutional and individual investors the opportunity to invest in Bitcoin without the obligation to hold the underlying asset. The strong interest in ETFs contributes to more stable demand for Bitcoin, positively influencing the largest cryptocurrency‘s market structure and serving as a bulwark against the negative effects of the upcoming block reward halving. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-miners-ramp-up-sales-as-block-reward-halving-approaches/" data-wpel-link="internal">Bitcoin Miners Ramp Up Sales as Block Reward Halving Approaches</a></h5>

Bitcoin Miners Ramp Up Sales as Block Reward Halving Approaches

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