How the largest Bitcoin (BTC) miners are preparing for the 2024 halving
If the BTC price remains the same or declines after the halving, miners will have to make major changes to their business model
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The upcoming Bitcoin halving, which will reduce the block reward to 3.25 BTC, is historically a bullish event. Recently, some large miners have purchased more powerful hardware to stay afloat and successfully compete with other players.
However, as the number of machines connected to the network increases, the difficulty of mining blocks also increases. As a result, miners have to spend more energy to qualify for rewards.
The verification process began after the Bitcoin network first collected enough transactions to fill a block. Initially, even a general-purpose computer could calculate the hash of a block and receive the so-called block reward.
