Bitcoin

Impact

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Bitcoin mining CEOs maintain optimism ahead of the upcoming halving event, despite underperforming in the market, according to Bernstein.</li>
 <li>Bitcoin’s next halving event, which reduces the subsidy reward for miners, is expected to occur in about five days.</li>
</ul>
<p>Bitcoin mining leaders are reportedly maintaining a positive outlook, even as the next halving event approaches. This event, which is expected to take place in approximately five days, reduces the reward for miners by half. Despite the potential impact on their revenues, these CEOs remain hopeful, according to a note from research and brokerage firm Bernstein.</p>
<h2 id="halving-event-and-its-impact">Halving Event and its Impact</h2>
<p>The halving event is an automatic process programmed into the <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin (BTC)</a> network. It occurs roughly every four years or every 210,000 blocks. When a halving event takes place, miners receive 50% fewer bitcoins as a reward for every block of transactions they add to the blockchain.</p>
<p>However, the halving has been viewed as a challenge for miners in every cycle. Despite this, the substantial price increase of Bitcoin this year, which is up 60%, has led to dollar revenues being near record highs. This has provided miners with a solid balance sheet and relatively low debt ahead of the halving.</p>
<h2 id="bitcoin-mining-industry-s-outlook">Bitcoin Mining Industry’s Outlook</h2>
<p>Despite the challenges, CEOs of leading Bitcoin mining companies remain optimistic. They believe that the strong economic activity on the blockchain has created a new transaction fee revenue stream. This leaves miners in a financially comfortable position to withstand the impact of the halving.</p>
<p>Furthermore, Bitcoin has seen renewed interest from application developers and Layer 2 scaling infrastructure teams. This has led to transaction fees spiking up to 40% of revenues at times, providing an additional cushion for miners post-halving.</p>
<p>The growing demand for AI is another factor impacting the mining industry. In the short term, AI is helping miners reduce Bitcoin ASIC chip costs. However, it is also creating more competition for acquiring sites in low power cost states.</p>
<p>Despite the volatile price of Bitcoin, miners are still focusing on it. This is due to the potential for diversifying revenue streams through AI data center opportunities.</p>
<p>Lastly, Bitcoin’s price has dropped by 8.7% over the past week, due to geopolitical tensions. However, barring any further geopolitical surprises, these levels could be attractive for investors.</p>
<p>In conclusion, with the halving event soon to be over, increased market share, strong revenues and capacity pipeline, and additional opportunities are expected. This leads analysts to predict a year of outperformance for top public miners compared to Bitcoin.</p>

Bitcoin Mining Executives Confident Amidst Approaching Halving Event, Claims Bernstein

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Ďalšie články zverejnené 15. 4. 2024

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