Expect Bitcoin Mining Revenues to Fall With the Coming of the Fork
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Answer Expect Bitcoin Mining Revenues to Fall With the Coming of the Fork
Bitcoin miners’ revenue will drop to $6.7 million per day if prices stay the same after the mining reward halves.
Bitcoin miners are about to see their revenue nearly halve after the next month’s Bitcoin reward halving event.
The scheduled fork will see the Bitcoin block reward drop from 12.5 BTC to 6.25 BTC.
Current estimates are that the Bitcoin reward halving event will occur on May 12 or 13, although this date could change depending on the mining of new blocks.
pointed out Larry Cermack of “The Block” reported in a column published on Monday that miners currently make about $13.4 million a day in revenue (profits depend on the cost of electricity, labor and other expenses).
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But after the halving, if prices remain roughly the same following the split, mining revenue will drop to $6.7 million per day.
The implications of this are important for the financial capacity of miners, those who operate inefficient equipment will face increased pressure, especially those surrounded by recent market volatility, on the other hand miners with more robust financial capabilities (companies and institutions) are likely to find Particularly the ones that are able to secure more efficient devices and position themselves in a more competitive position.
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Read also:
Learn about mining profits during the month of March
Learn the details of the first fork of the Bitcoin Cash mining reward
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