Matthew Schultz: “90% of large miners will be unprofitable after Bitcoin halving”
Matthew Schultz refers to a study by financial and auditing company Cantor Fitzgerald. According to him, at current Bitcoin prices, the largest miners, including Marathon Digital, Riot Platforms, and Core Scientific, will come under pressure after the halving of the first cryptocurrency. The cost of mining 1 BTC will exceed the price of the first cryptocurrency on the market.
According to Schultz, the most vulnerable are the British firm Argo Blockchain and the American Hut 8 — after halving, the cost of mining bitcoins for these companies will be $62,276 and $60,360, respectively. At the same time, at current prices in the region of $40,000, only Bitdeer (Singapore) and his company CleanSpark (USA) will be able to maintain their business.
Recall that the next Bitcoin halving is due in April this year. If miners now receive 6.25 BTC for discovering a block, then after halving the reward, the reward will be 3.125 BTC.
