2024-04-08 23:34:40

According to Blockworks, Bitcoin miners are bracing for a significant reduction in per-block rewards, which are set to halve from 6.25 to 3.125 BTC later this month. This fourth halving event in the network's history could pose a significant challenge for even the most well-equipped mining firms, and potentially make the already slim profit margins of home-based miners even slimmer.

The situation is straightforward for miners: if the halving increases Bitcoin's price, their investment is justified. However, if it doesn't, smaller miners could be left with idle ASICs, high energy bills, and little chance of recouping their costs. Some home-based miners have shared their concerns on the r/BitcoinMining subreddit, stating that Bitcoin would need to reach between $70,000 and $140,000 for them to break even or maintain their current profit margins post-halving.

BTC-0.96%

SLIM-2.86%

HOME-2.22%

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.