Author: Paul Sztorc 2016-03-09 20:26:47
Published on: 2016-03-09T20:26:47+00:00
Bitcoin miners have invested heavily in the industry with hash rates increasing by almost 70% in the last six to seven months, which suggests they are aware of the upcoming halving event. However, there are several ways in which this information could be irrelevant; some miners may expect to breakeven before the halving, while others may believe that the halving will not pose any problems. Some miners may even be relying on Core Devs to fix any issues that arise regarding the halving. In addition, many miners anticipate that the price of bitcoin will increase around the time of the halving, though others believe it could just as easily decrease. The fact that these same miners were mining when the coin price was $250 last year indicates that profitability won't be a significant concern if the price remains around $400. For some miners, the cost of electricity per mined coin is currently higher than what they would get at $400 per coin after the halving. It's unclear how representative this information is.
Updated on: 2023-06-11T04:15:43.165059+00:00