Analyst: Bitcoin Halving Might Lead To Detrimental Internet Revenue of Miners

The following Bitcoin (BTC) halving will happen in April 2024 and will push miners earnings into the pink. HashrateIndex cryptocurrency mining analyst Jaran Mellerud mentioned that almost half of Bitcoin miners aren’t working at optimum ranges of effectivity.

Subsequently, these miners are prone to be caught after the subsequent halving. The breakeven electrical energy value for the commonest miners after the halving is anticipated to drop from $0.12/kWh to $0.06/kWh.

Nevertheless, about 40% of BTC miners have an working value per kWh greater than $0.06/kWh. Subsequently, miners with working prices above $0.08/kWh and people with out mining rigs could also be severely affected by the halving.

Wolfie Zhu, director of analysis at The Miner Magazine, the analysis arm of mining consultancy Blocks Bridge, mentioned that when every thing is factored in, the whole value for some miners is way greater than Bitcoin’s present value. For a lot of miners working much less effectively, internet earnings will flip unfavorable.

Ethan Vera, chief working officer at Luxor Applied sciences, estimates that the worldwide mining trade’s debt has been decreased from $8 billion in 2022 to round $4.5 billion to $6 billion right this moment.