With the fourth Bitcoin (BTC) halving approaching, the mining community is becoming more concerned. Scheduled for April 19, 2024, this event will cut mining rewards from 6.25 BTC to 3.125 BTC per block. Charles Edwards, the founder of Capriole Investments, emphasizes immediate risks. Miners who have old, less efficient hardware might bear a great financial burden. This would result in some mining operations being shut down, with dire consequences for the overall network’s security and hash rate.
In particular, Edwards specifies the vulnerability of miners who used equipment from the past. As an example, the Bitmain Antminer S19 may continue to be a profitable miner only if the prices of Bitcoins will rise above $80,000. The current market situation, along with future uncertainties, intensifies their fears. Besides, the change may also result in the decentralization of mining activities, thus centralizing the power among a few larger operations that have money to spend on the latest t
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