The Halving
Last updated
Last updated
All those data in the background were researched and calculated BEFORE Bitcoin Halving event that happened at April 19th 2024, which block reward (or subsidy) associated with validating each new block of transactions was cut in half.
Before the halving, miners received 6.25 BTC per block. Afterward, this reward was reduced to 3.125 BTC.
As BTC mining rewards drop lower and lower, independent miners are poised to get squeezed out of business which leaving giant, institutional players that have invested untold millions of dollars in cutting-edge technology designed to maximize the efficiency of mining operations.
Miners will be forced to become more efficient in order to remain profitable. This means not only more efficient machines, but also the most affordable energy, which tends to be renewable energy in remote locations. Large firms are far better poised than independent miners to make the leap to both energy efficient machines and hard-to-reach renewable energy sources.
The halving will push such firms even further into dominance and then make BTC mining overwhelmingly the product of highly efficient, and often renewable sources of energy. The halving event will also transform the Bitcoin mining process, notorious for its inherent inefficiency, into a more energy-efficient operation than ever before.
Thus, at least in the short term, the Halving may brought good news for those concerned about the sustainability of Bitcoin mining’s environmental impact.