Miners

Bitcoin miners have struck a proverbial goldmine, reaping an astonishing $107 million in profits, according to data from Glassnode, a leading analytics platform. This unprecedented windfall, amassed on April 20th, underscores a significant shift in the revenue dynamics of Bitcoin mining operations. The meteoric rise in transaction fees serves as a bellwether for the evolving economic landscape of Bitcoin mining. As the network adapts to new market demands and technological advancements, transaction fees have emerged as a crucial revenue stream…

In the wake of the latest Bitcoin halving event, a significant shift in the cryptocurrency mining landscape is emerging, according to a recent report by CoinShares. As the halving reduces the rate of Bitcoin supply growth by 50%, miners are confronted with soaring operational costs, prompting some to consider alternative revenue streams such as artificial intelligence (AI). Post-Halving Spike: Bitcoin Mining Costs to Reach $53,000 The report highlights a nearly doubling of mining costs, projecting that the average cash cost…

Following the successful completion of the long-awaited fourth Bitcoin halving on April 20, miners’ struggle for profitability has begun. The event reduced block rewards from 6.25 BTC to 3.125 BTC, slashing the amount of assets produced daily. This has greatly affected miners’ profitability as they would rely more on transaction fees and higher BTC prices to stay afloat. Struggle for Profitability According to Jag Kooner, the Head of Derivatives at crypto exchange Bitfinex, Bitcoin miners are expected to face increased…

The price of Bitcoin fell drastically towards the $60,000 mark in the days leading up to the just concluded halving. On-chain data has shed light on what could very well be the reason for this price dip in the middle of all the excitement around the halving. Particularly, data has revealed that some miners have been selling their holdings in the days leading up to the halving event, with the entire BTC holdings of miners hitting a 12-year low.  Miners’…

Bitcoin mining operations reached unprecedented daily revenue levels immediately following the halving, dispelling concerns over their viability. According to available data, miners collectively earned around $107 million from block rewards and transaction fees. This figure significantly surpasses the previous record of $77 million established in April 2021. Why Bitcoin Miners’ Revenue Soared The lion’s share of this earning, approximately 75% or $80 million, stemmed from transaction fees. The remaining $27 million originated from the block subsidy. Notably, Bitcoin miners earn…

The post Bitcoin Miners May React Different Post Halving! appeared first on Coinpedia Fintech News An increase in the selling pressure is a common trend among the Miners during the Bitcoin cycle. However, miners showed a different behavior this time as the selling pressure had not increased during the final hours or even post-halving. If the historic pattern repeats, an accumulation of BTCs among miners could be recorded for the upcoming price rally in the coming months.

The post Only 10 Hours To Bitcoin Halving: Here’s How Miners Are Preparing appeared first on Coinpedia Fintech News The Bitcoin halving event is set to occur between April 19-20, 2024. This event, occurring every four years, will cut the block subsidy for Bitcoin miners from 6.25 BTC to 3.125 BTC, effectively halving the reward that miners earn for their work. Despite this, miners may hold off on selling activities this time, creating an exception in the aftermath of the…

On-chain data shows Bitcoin miners have always sold as Halvings have occurred. With the next one just around the corner, how are miners behaving this time? Next Bitcoin Halving Is Less Than Two Days Away Now In a CryptoQuant Quicktake post, an analyst discussed Bitcoin miners’ behavior in the build-up to the next Halving. The “Halving” is a periodic event on the Bitcoin network where the cryptocurrency’s block rewards (the compensation miners receive for solving blocks) are permanently slashed in…

Bitcoin miners are experiencing a significant drop in stock prices as the upcoming halving is slated for later this week. The fourth Bitcoin halving, around April 20, will slash mining rewards by half to 3.125 BTC, currently valued at approximately $200,000. Bitcoin Miner Stocks Decline The stock prices of Marathon Digital (MARA) and Riot Blockchain (RIOT), key players in Bitcoin mining, have experienced significant declines, dropping by approximately 53% and 54%, respectively, from their peak values earlier this year in February,…