Bitcoin Miners Brace for Revenue Hit as Halving Nears

The upcoming Bitcoin "halving" will cut miners' rewards in half, costing the industry $10 billion a year in lost revenue. This could determine which miners survive.

Miners face rising power costs and competition from AI companies for electricity, squeezing their margins further.

Public mining companies can raise funds by issuing shares, but private miners rely more on debt financing, which has dried up recently.

Miners are engaged in an arms race for more computing power, but mining difficulty keeps increasing as more miners join.

Past halvings have preceded Bitcoin price increases, but margins are thinner this time with miners' rising costs and the reward drop.