Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-mining-stocks-tumble-as-halving-event-looms" rel="noopener noreferrer nofollow">Bitcoin Mining Stocks Tumble as Halving Event Looms</a><br></p>
<p style="text-align: justify">Despite <a href="https://en.bitcoinhaber.net/bitcoins-current-rally-could-be-more-stable-than-the-2017-rally-says-analyst" rel="noopener noreferrer nofollow">Bitcoin</a>‘s surge nearing $64,000, the past few days saw a significant drop in the value of Bitcoin <a href="https://en.bitcoinhaber.net/phoenix-group-bolsters-position-in-crypto-mining-ahead-of-bitcoin-halving" rel="noopener noreferrer nofollow">mining</a> companies’ stocks, with top firms Marathon Digital Holdings and Riot Platforms losing 18.5% and 21.9% respectively. An analyst points towards the impending halving event as a potential factor for the decline, suggesting an opportunity to buy these stocks at lower prices.</p>
<h2 id="mining-stocks-vs-bitcoin-s-price-movement">Mining Stocks vs. Bitcoin’s Price Movement</h2>
<p style="text-align: justify">Bitcoin’s price has witnessed a substantial increase from $51,000 to a peak of $63,700, only to settle around $61,350 recently. Nevertheless, the mining stocks have not mirrored this upward trajectory. Mitchell Askew of Blockware Solutions proposes that investor caution ahead of the halving event could explain the divergence between Bitcoin’s price and mining stocks’ performance.</p>
<p style="text-align: justify">The upcoming Bitcoin halving will slash miner rewards by half, from the current 6.25 Bitcoins to 3.125 Bitcoins per block. This reduction signifies a significant decrease in potential revenue for mining companies, which has previously led to discounted prices for their stocks as investors react to the anticipated earnings drop.</p>
<h2 id="industry-expert-perspectives">Industry Expert Perspectives</h2>
<p style="text-align: justify">Jaran Mellerud from Hashlabs Mining anticipates the period post-halving could be crucial for U.S.-based mining businesses, with some potentially relocating to cut costs and stay profitable. Contrarily, Askew maintains optimism, dismissing the notion that the halving would severely impact profitability. He argues that mining companies are well-prepared, enjoying low energy costs and investing in advanced mining hardware to offset reduced block rewards.</p>
<p style="text-align: justify">Investors are closely monitoring the mining sector as the halving approaches, weighing the risks and potential benefits. The opposing views between experts highlight the uncertain nature of this pivotal event in the Bitcoin mining industry.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-mining-stocks-tumble-as-halving-event-looms" rel="noopener noreferrer nofollow">Bitcoin Mining Stocks Tumble as Halving Event Looms</a></h5>

Bitcoin Mining Stocks Tumble as Halving Event Looms

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