See these mountains and rivers? They’re just like our years and gentle feelings, flowing softly.
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The Bitcoin halving in April 2024 reduced the block reward from 6.25 BTC to 3.125 BTC, cutting miners' revenue per block in half. This directly impacts profitability, as operational costs—primarily energy and hardware—remain constant or rise with increasing network hashrate. Pre-halving, miners earned $3.7 billion in Q4 2024, but post-halving fee revenue dropped below 2%, straining margins. Miners with efficient rigs and low-cost energy (e.g., renewables) adapted better, while less efficient operations faced losses or shutdowns. Bitcoin’s price surge above $105K mitigated some impact, boosting revenue for surviving miners. However, rising hashrate (20 EH/s pre-halving to higher levels) intensified competition, effectively doubling the profitability challenge. Advanced hardware and strategic pivots (e.g., AI) became critical for miners to stay viable.
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https://warpcast.com/jvmi/0x593c42ff
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