Bitcoin Miners Brace for 2024 Halving WhileCompeting for Market Share
• Antpool and Foundry dominate Bitcoin mining, owning over 50% of hashing power. Competition between them has intensified recently as Antpool pulls ahead.
• The upcoming Bitcoin halving in 2024 will reduce miner rewards by 50%, likely increasing mining costs and potentially affecting prices.
• Miners are stockpiling bitcoin reserves in anticipation of possible ETF approvals and the halving. They may avoid selling to fund operations.
• The halving could drive demand for advanced mining rigs like the Antminer S21 as miners seek to lower costs and gain market share.
• Bitcoin fundamentals are the strongest they've ever been according to a recent report, with bitcoin on track to become a major traditional finance asset by 2025.