Bitcoin Miners Change Their Strategies as Block Reward Halving Approaches

According to the CryptoQuant analysis platform, Bitcoin miners increased their sales as the block reward halving approached. Particularly in over-the-counter markets, daily sales of 1600 BTC were made at the end of March. This strategic sales move shows miners’ efforts to take advantage of current conditions. Under Pressure Profitability Despite the increase in Bitcoin mining revenues, the profit per hashrate has decreased by 30%. This affects miners’ strategies for the 4th block reward halving and creates pressure on profitability. Hashrate and Competition on the Rise Bitcoin’s hashrate value has increased to 600 H/s, increasing competition among miners and the density in the mining ecosystem. Hashrate represents the computing power that ensures the security of the network. With the 4th block reward halving expected on April 19, 2024, miners’ rewards will be halved and this could lead to a 3-7% decrease in profits. The dynamics and effects of this change on […]

Bitcoin Miners Change Their Strategies as Block Reward Halving Approaches

According to the CryptoQuant analysis platform, Bitcoin miners increased their sales as the block reward halving approached. Particularly in over-the-counter markets, daily sales of 1600 BTC were made at the end of March. This strategic sales move shows miners’ efforts to take advantage of current conditions.

Under Pressure Profitability

Despite the increase in Bitcoin mining revenues, the profit per hashrate has decreased by 30%. This affects miners’ strategies for the 4th block reward halving and creates pressure on profitability.

Hashrate and Competition on the Rise

Bitcoin’s hashrate value has increased to 600 H/s, increasing competition among miners and the density in the mining ecosystem. Hashrate represents the computing power that ensures the security of the network.

With the 4th block reward halving expected on April 19, 2024, miners’ rewards will be halved and this could lead to a 3-7% decrease in profits. The dynamics and effects of this change on the network’s security are being carefully monitored.

Useful Information for the Reader

Miners are encountering the block reward halving with strategic sales.
The increase in mining revenues has led to a decrease in profit per hashrate.
The increase in hashrate is blurring the competition among miners.
The 4th block reward halving could negatively impact miners’ profits.
Bitcoin ETFs in the US may mitigate the negative effects of the block reward halving by positively impacting the market.

It is stated that Bitcoin ETFs in the US could alleviate selling pressure in the market and create a more stable demand for Bitcoin. This could positively impact the market structure of Bitcoin and balance out the effects of the block reward halving.

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