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Hot take: the Bitcoin halving isn’t necessarily good for everyone.
Actually, there are some major potential downsides for miners.
Let’s dive in, shall we?
This upcoming April will be the next halving cycle for Bitcoin — aka BTC mining rewards get cut in half.
Most of the time (at least every previous time) the price of Bitcoin shoots up for a bit, so folk are expecting BTC to do the same this time around.
But! A miners main job is to solve complex cryptographic puzzles time and time again.
Cool.
But to do that, miners use up a TON of electricity…so much electricity that a lot of mining groups are finding it hard to remain profitable at current electricity rates with today’s block reward prices.
Starting to see the bigger picture?
When Bitcoin halves, miners will be rewarded HALF of what they used to be — all for the same cost of electricity as before.
Cutting margins even closer to a breakeven point, or potentially into the negatives.
And some big shots in the space are even warning investors that with this upcoming halving, there will most likely be a ton of mining machines being shut down.
Which means miners might need to start getting creative.
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