Bitcoin Miners Well-Positioned for Profits Despite Looming Halving Cut to Rewards
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Bitcoin miner stock gains are outpacing the price of Bitcoin ahead of the halving in April, which will cut mining rewards.
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The halving will result in fewer new coins being created, which could lift Bitcoin prices, but hurt less efficient miners.
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At current Bitcoin prices, only a couple miners are profitable according to an analysis. Higher electricity costs or less efficient machines will make profits difficult post-halving.
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Miners like Riot Blockchain and Marathon Digital say they have positioned themselves to be profitable after the halving with low costs and cash reserves.
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30% of miners could be forced to unplug after the halving, presenting opportunities for more efficient miners to grow, says CleanSpark.