Bitcoin Halving, the block award that the cryptocurrency market has been waiting for with great excitement for four years, is getting closer. After Bitcoin Halving, the BTC block award will fall from 12.5 to 6.25, and the earnings of Bitcoin (BTC) miners will also be technically slashed in this context.
While many market experts and analysts see this as a pretty positive development, we can see the vast majority of small-scale cryptocurrency miners going bankrupt after Bitcoin Halving and turning off their devices. If the price of Bitcoin can't get out of the $ 7,000 band and come up to minimum levels of $ 12,000, even mid-range miners are likely to have a tough time.
Are Bitcoin Miners In Danger?
Chun Wang, co-founder of F2Pool, one of the largest Bitcoin mining pools, also said he was worried about it. He says that usually larger mining facilities have a much higher level of economic status, and thinks that only large firms can survive with the advantages they have.
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China and similar places, both in terms of electricity and hardware prices in terms of the advantages of miners underlining Chun Wang, small-scale miners to disappear may damage the lack of decentralization, he stressed. But a rise in the price to expected levels ahead of BTC Halving could allay miners ' concerns.
Yet it is thought a drastic price hike could come before BTC Halving, and the miners in question may not have to turn off any devices at all.