How Bitcoin miners can survive a hostile market — and the 2024 halving


Only seven months remain before the next Bitcoin (BTC) halving in April 2024. It happens approximately every four years and is a deflationary process that cuts the production of new coins by 50%.

Bitcoin’s halving is a high-profile event for crypto investors, and has historically led to an increase in Bitcoin’s price. However, its impact on the mining industry is a more complex issue. It reduces block rewards,  one of the primary revenue streams for miners. The 2024 halving will reduce it from 6.25 BTC to 3.125 BTC. That’s why miners must adapt their strategies to compensate for the reduced rewards resulting from the halving.

Let’s explore the strategies and alternative income sources that may help Bitcoin miners amid hostile market conditions.

Changing mindsets

Bitcoin mining involves a competitive process where miners vie for block rewards. This competition is driven by Bitcoin’s block time, which averages around 10 minutes per block on the protocol level. Whether the network’s computing power is relatively low at 1 kH/s or surges to a massive 200 million TH/s, the same…

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