[News] Bitcoin completed its fourth halving on April 20, with the block reward reduced to 3.125 BTC. This change had a direct impact on the mining industry, with miners' income plummeting in the short term. At the same time, Bitcoin's inflation rate was also affected, and the market expected that the increase in scarcity would drive the price of the currency further up. However, since the halving, the price of Bitcoin has fallen slightly by 3.87%, which has put miners under stress testing and short-term investors at risk of losses.

According to PAData, a data column under PANews, after the production cut, the circulation rate of on-chain tokens fell by 23%, and more chips were in the process of accumulation. From the perspective of time period, since the beginning of this year, the number of chips with a holding period of 1 month to 3 months, 3 months to 6 months, and 3 years to 5 years has increased significantly. In addition, the number of addresses with balances between 100 BTC and 1,000 BTC, and between 1,000 BTC and 10,000 BTC has increased significantly by more than 1.3%.

After the production cut, miners are facing greater revenue pressure. According to the current coin price and higher electricity costs, the shutdown price is estimated to be $55,000, a significant increase from the lowest shutdown price of $14,300 in August last year. The current total daily mining income is about $26,487,100, a decrease of 51.63% from the average daily income of $54,762,300 before the halving this year.

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