The following Bitcoin (BTC) halving will occur in 2024. in April and will push miners’ income into the purple. HashrateIndex cryptocurrency mining analyst Jaran Mellerud stated that just about half of Bitcoin miners usually are not working at optimum effectivity.
Due to this fact, these miners are more likely to get caught after the subsequent halve. The halving is anticipated to scale back the electrical energy worth of the most typical miners from $0.12/kWh to $0.06/kWh.
Nonetheless, about 40% of BTC miners have working prices per kWh larger than $0.06/kWh. Due to this fact, miners with working prices above $0.08/kWh and people with out mining rigs could possibly be hit laborious by the halving.
Wolfie Zhu, director of analysis at The Miner Magazine, the analysis arm of mining consultancy Blocks Bridge, stated that every one issues thought of, the overall price for some miners is far larger than the present worth of Bitcoin. Many much less environment friendly miners could have a unfavourable web revenue.
Ethan Vera, CEO of Luxor Applied sciences, estimates that the worldwide mining business’s debt has fallen from $8 billion USD in 2022 to about 4.5 billion USD as much as 6 billion USD right this moment.
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