Bitcoin Halving Can Put 20% of Hashrate Offline

The upcoming Bitcoin halving, slated to slash block rewards in half, is anticipated to trigger a significant offline shift in Bitcoins hash rate, potentially affecting up to 20% of the current hash rate. This impending change is expected to leave only the most efficient mining rigs operational in the aftermath. Impact on Mining Rig Models As of December 2023, a substantial portion of Bitcoins hash rate, exceeding 70%, was generated by eight specific ASIC miner models, as per data sourced from Coin Metrics. Galaxys analysts project that due to the sensitivity of breakevens for...


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