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New hardware and the search for cheap electricity: how miners prepare for Bitcoin halving
Bitcoin halving will reduce miners’ income
Miners of steel are preparing for halving in 6 months
Europe, North America and Georgia will be among the five countries for the extraction of cryptocurrencies
Another halving: Bitcoin halving cuts the number of new coins created and earned by miners in half. This happens approximately every four years and … More of the main cryptocurrency – bitcoin is scheduled for mid-May and will take place approximately on the 14th. After “splitting in two” the size of the reward for the mined BTC block will be reduced by exactly 50%: from $ 12.5 to $ 6.25. For miners, this means a loss of profits, and halving threatens cryptocurrency mining as a field of activity. Already today, miners are changing equipment for more powerful ones in order to mine more coins in a shorter period of time, and are also looking for ways to get cheap electricity..
One of the creators of ProgPoW, Christy Lee-Minehan and co-founder and CEO of Braiins Pavel Moravets. According to Lee-Minehan, miners started preparing for halving 6 months before the expected date.
First and foremost, the mining companies decided to upgrade their computing power and purchased new ASIC machines such as the Antminer S17 and S19. This will allow you to mine more coins in a shorter amount of time. In addition, modern technology allows you to save energy spent on mining coins..
As Moravec explained, Braiins is already supplying mining farms with new equipment that can save up to 20-30% of electricity..
In addition, experts agree that today mining has become a full-fledged field of activity. At the moment, agreements have been reached between the governments of the countries of the world, utilities and miners regarding the provision of electricity to farms for the extraction of cryptocurrency. This mutually beneficial cooperation will continue to develop. For example, today miners buy excess electricity from producers at special rates.
This allows generating companies to receive additional profits, and for miners – acceptable conditions for their activities..
According to Lee-Minehan, mining will actively develop in Georgia, North America and Europe in the next few years. China will remain the leader in the extraction of cryptocurrencies.
As Lee-Minehan stated, the mining of cryptocurrencies has reached such a historical point that even governments of states are ready to support mining. They understand that bitcoin will not go anywhere, so they are trying to create conditions for cryptocurrency mining and get additional profit from this..
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