Bitcoin

Billion

In April, Bitcoin’s upcoming halving is poised to slash daily mining rewards by half, potentially leading to a $10 billion annual revenue drop for miners, according to <a href="https://www.business-standard.com/markets/cryptocurrency/bitcoin-halving-will-deal-a-10-billion-revenue-blow-to-crypto-miners-124041400532_1.htmlhttps://www.business-standard.com/markets/cryptocurrency/bitcoin-halving-will-deal-a-10-billion-revenue-blow-to-crypto-miners-124041400532_1.html" target="_blank" rel="noreferrer noopener" data-wpel-link="external">Business Standard</a>. 
The reduction from 900 to 450 Bitcoin per day could lead to a $10 billion annual revenue loss for the industry. Companies such as Marathon Digital Holdings Inc. and CleanSpark Inc. are preparing for this decline, investing in new equipment and acquisitions to mitigate the impact. 
Analysts, like Matthew Kimmell from CoinShares, highlight the urgency for miners to maximize revenue before the halving hits. Success post-halving hinges on how miners adapt to reduced revenues overnight. 
Despite Bitcoin’s recent price surge, which historically mitigates mining reward drops, industry competition intensifies. Miners must continuously invest more in technology, facing additional pressure from the growing AI sector for power resources. 
Bitcoin’s price spike has offset rising energy costs, driving growth in mining. US-listed miners, though prominent, only represent 20% of the sector’s computing power. Private miners, reliant on financing, may struggle post-halving compared to public companies. 
This dynamic could impact the industry’s landscape post-halving, determining which companies thrive and which struggle. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/04/13/bitcoin-prepares-for-halving-just-996-blocks-away/" target="_blank" rel="noreferrer noopener" data-wpel-link="internal">Bitcoin Prepares for Halving, Just 996 Blocks Away</a> 
</blockquote>

Bitcoin Halving Set to Cut Miners’ Revenue by $10 Billion

The Crypto Times

Další články publikované 15. 4. 2024

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