Bitcoin Hit a Major Milestone—Most Miners Won't Be Around for the Next One
Bitcoin has reached a significant milestone with its block reward halving event, which reduces the reward for mining new blocks from 6.25 to 3.125 BTC. This event typically leads to increased prices due to reduced supply, but many miners are struggling with profitability due to high operational costs and declining Bitcoin prices. Analysts predict that a substantial number of miners may not survive until the next halving, which is expected in 2024. The current market conditions and the upcoming halving could reshape the mining landscape significantly.
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