Bitcoin

April

Edge

James

Coin

<ul class="news-points"> 
 <li>Bitcoin halving in April may raise the mining cost to $37,856 per BTC.</li> 
 <li>CoinShares report warns of profitability crisis for miners if BTC falls below $40,000.</li> 
 <li>Riot Blockchain, TeraWulf, and Cleanspark were identified as best-positioned miners.</li> 
</ul> 
A new <a href="https://blog.coinshares.com/coinshares-mining-report-the-halving-and-its-impact-on-hash-rate-and-miners-cost-structures-8646835d88ac" target="_blank" rel="nofollow">report</a> warns that the upcoming Bitcoin halving, expected in April, could have the average cost of mining a single Bitcoin skyrocket to a staggering $37,856. This sharp increase could drive many miners out of business if <a href="https://coinedition.com/bitcoin-btc-is-likely-to-fall-below-42000-heres-why/">Bitcoin fails to stay</a> above $40,000. The <a href="https://coinedition.com/basics-of-btc-mining-how-to-mine-bitcoin/">Bitcoin mining</a> network, while experiencing explosive growth with a 104% hashrate surge in 2023, faces a looming profitability crisis. According to CoinShares, a digital asset investment company, the average cost of producing one Bitcoin will cost an average of $37,856 after the halving event. 
“In this research article, we have estimated the weighted average for the cost of production and cash cost, which stood at approximately $16,800 and $25,000 per bitcoin, respectively, for Q3 2023. Following the halving event, expected to happen in April 2024, these costs are likely to rise to $27,900 and $37,800 respectively,” says James Butterfill, author of the Co…
The post <a href="https://coinedition.com/bitcoin-miners-on-edge-as-halving-looms-costs-soar-profits-squeezed/">Bitcoin Miners on Edge as Halving Looms: Costs Soar, Profits Squeezed</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Bitcoin Miners on Edge as Halving Looms: Costs Soar, Profits Squeezed

Coin Edition

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