From Investing.com: 2024-04-13 16:00:28

The upcoming fourth Bitcoin (BTC) halving has analysts predicting a bullish market, but some warn of potential struggles for miners. Capriole Investments’ Charles Edwards believes old-gen hardware miners could face financial strain this year.

Set for April 19, 2024, the BTC halving will cut mining rewards from 6.25 BTC to 3.125 BTC per block. Miners with inefficient hardware may struggle to stay afloat post-halving, with the popular Bitmain Antminer S19 only profitable if BTC hits $80,000.

BTC halving, occurring every four years, reduces Bitcoin’s emission rate by half, leading to a scarcer asset with increased value. Tether and Bitfinex CTO Paolo Ardoino sees this as a poetic process, noting the significant price rally, nearly 600%, following the 2020 halving.

Read more at Investing.com: Bitcoin (BTC) Halving Might Bring Suffering in Short Term, Analyst Charles Edwards Says By U.Today