🚀 The Miner Effect: March's Market Movements 🚀
March has been a showcase of strategic maneuvers in the Bitcoin universe, with miners playing a pivotal role in sculpting market dynamics. Their transfer of Bitcoin from wallets to exchanges was more than just routine; it was a glimpse into the calculated world of cryptocurrency strategy.
📈 Inverse Patterns, Direct Impact
An intriguing pattern emerged: increased BTC outflows from exchanges to miners were often followed by a rise in Bitcoin's value. This dance between miners and the market doesn't just hint at savvy adjustments; it shows miners' significant sway over price trends.
🕰 Countdown to the Halving
With the April 2024 halving horizon approaching, the stakes are higher. This event, designed to slash block rewards in half, is not just a protocol routine; it's a market tremor waiting to happen. Miners, anticipating reduced rewards, are adjusting their sails early, hinting at a larger wave of strategic liquidations to ensure profitability.
🔍 Watching the Waves
As we edge closer to the halving, the importance of understanding the nuanced interplay between miners and exchanges becomes paramount. It's this dance that could foretell the future movements of Bitcoin, from liquidity shifts to price fluctuations.
#BitcoinHalving2024 #MarketDynamics #MinerMoves #CryptoStrategy #BlockchainTrends

Bitcoin News: Bitcoin Miners May Shift Focus to AI After Halving

Miners will be faced with substantial cost increases as a result of the halving, with electricity and bitcoin production costs almost doubling, the report said.
Bitcoin miners may shift towards AI due to the potential for higher revenue, CoinShares said.

The average bitcoin production cost post-halving is about $53,000.

Some miners are actively managing financial liabilities and are using excess cash to pay down debt, the report said.
Crypto miners may shift towards artificial intelligence (AI) in energy-secure locations following the bitcoin (BTC) halving due to the potential for higher revenue, CoinShares (CS) said in a report on Friday.

The quadrennial halving, which slows the rate of growth in bitcoin supply by 50%, occurred on Friday evening.

Coinshares notes that mining companies like BitDigital (BTBT), Hive (HIVE) and Hut 8 (HUT) are already generating income from AI. At the same time, TeraWulf (WULF) and Core Scientific (CORZ) have existing AI operations or plans to grow in the space.

“This trend suggests that bitcoin mining may increasingly move to stranded energy sites while investment in AI grows at more stable locations, authors led by James Butterfill wrote.
The miners will be faced with substantial cost increases as a result of the halving, with electricity and overall production costs almost doubling, the report said. Mining companies can try to mitigate these higher costs by optimizing energy costs, increasing mining efficiency and buying better-priced hardware.
“The weighted average cash cost of production in Q4 was approximately $29,500; post-halving, it is projected to be about $53,000,” the authors wrote. The average electricity cost of production in the fourth quarter was about $16,300 per bitcoin, which is expected to increase to around $34,900 post the halving.
The hashrate could rise to 700 exahash by 2025, according to the asset manager’s forecasts, but may drop by 10% after the halving as miners turn off unprofitable machines.
#BTC☀ #MinerMoves