Bitcoin

April

when

<p><em><strong>The Bitcoin halving date has shifted once again. Experts believe BTC halving will wipe out certain types of miners.</strong></em></p>
<p>The upcoming Bitcoin halving event is likely to happen on April 20 once a block height of 840k is reached. This event will lower the rewards for miners who help maintain the network. Although the precise timing of the halving depends on network activity, it typically occurs every four years. It could affect the mining industry and impact the overall price of Bitcoin.</p>
<h2 class="wp-block-heading" id="strong-will-inefficient-miners-go-extinct-after-this-halving-strong"><strong>Will Inefficient Miners Go Extinct After This Halving?</strong></h2>
<p>Recently, there has been an incredible demand for the <a href="https://www.thecoinrepublic.com/2023/09/22/bitcoin-network-block-piles-up-470k-transactions-fees-skyrockets/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin network</a>, including spot ETF issuers filling up bags of BTC to fill their funds. Moreover, retail investors are buying and selling around Bitcoin’s multiple all-time high price milestones. Bitcoin Ordinals also see renewed demand as people inscribe and trade artwork and collectibles onto sats.</p>
<p>According to industry executives, the Bitcoin halving will likely significantly impact small, less efficient miners. However, it should not affect established players.&nbsp;</p>
<p>Bitcoin miners will face the reality of reduced block rewards in less than a month. Besides, the efficiency and scale of mining operations will be critical as firms compete for a share of the decreasing rewards.</p>
<h3 class="wp-block-heading" id="strong-industry-experts-share-their-views-on-bitcoin-halving-strong"><strong>Industry Experts Share Their Views on Bitcoin Halving</strong></h3>
<p>Marathon Digital, considered one of the biggest mining companies in North America, has been preparing for the halving for a long time. A media outlet was informed by the firm’s chief growth officer, Adam Swick, that the halving will test the most efficient and well-funded entities.</p>
<p>Swick explains that bigger companies are typically more resilient as they have greater access to capital and efficient operations. The immediate effect of the halving is a reduction in rewards and profitability. He warned that smaller operations that are marginally profitable may not survive this event at all.</p>
<h3 class="wp-block-heading" id="strong-oceanbit-co-founder-shares-his-views-strong"><strong>OceanBit Co-Founder Shares His Views</strong></h3>
<p>Michael Bennet is one of the co-founders of OceanBit. He believes miners will soon recognize the significance of operational efficiency, balance sheet management, and capital structure.</p>
<p>Opportunistic selling of miners is likely to occur as new all-time highs are marked due to their debt burden and maturing securities. This selling is aimed at reducing debt service during the post-halving cycle. Bennet said it will happen when the competition becomes fiercer and operational efficiency becomes the king.</p>
<p>The previous halvings forced mining companies to adapt to lower-margin environments. Bitcoin miners may now face pressure to convert BTC to cash to continue showing growth. In extreme cases, some organizations may sell off their BTC reserves or divest from operation sites to maintain the capital.</p>
<h3 class="wp-block-heading" id="strong-why-does-the-bitcoin-halving-date-keep-shifting-strong"><strong>Why Does the Bitcoin Halving Date Keep Shifting?</strong></h3>
<p>Recently, the expected date was briefly pegged at April 15. However, it is back on April 20 as of now. The date was shifted up amid BTC’s rise to the $73,000 mark (latest ATH).</p>
<p>Bitcoin blocks are usually mined every ten minutes, but the time between blocks can sometimes be two or even fifteen minutes. The halving event is expected to occur at a block height of 840,000, just a few blocks away from the current height of 835,701.&nbsp;</p>
<p>A block can accommodate around 2,700 transactions, but the block turnarounds can increase if the demand is high. Conversely, the processing time may slow down when there is a low number of transactions.</p>
<h3 class="wp-block-heading" id="strong-summary-strong"><strong>Summary</strong></h3>
<p>The demand for Bitcoin has surged lately, with ETF issuers, investors, and collectors buying and selling. The upcoming Bitcoin halving event will impact small miners but not established players. The halving is expected to take place soon at block height 840,000.</p>
<p>April 20 is the tentative date as of now.</p>
<h4 class="wp-block-heading"><strong>Disclaimer</strong></h4>
<p>The views and opinions stated by the author or any people named in this article are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks, cryptos, or other related indexes comes with a risk of financial loss.</p>

Bitcoin Halving: Experts Say Inefficient Miners May Go Extinct

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Thecoinrepublic.com

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