Bitcoin miners may have profitability concerns related to halving, but ultimately they respect halving, for it makes Bitcoin what it is.
) halving event has delighted early Bitcoin hodlers while striking fear into inefficient crypto miners.bankrupted companies“We as miners embrace halvings and cherish them — but of course, we fear them a bit too,” said Kristian Csepcsar, chief of propaganda at the Bitcoin mining infrastructure firm Braiins.
He added that Hut 8 mines “only when it is profitable” using its proprietary software and maintains a strong balance sheet with more than 9,100 BTC that enables it to maintain stability while investing in growth. “One of the main reasons investors are attracted to Bitcoin is its limited supply of 21 million coins, and this is also what makes Bitcoin unique,” added Hashlabs Mining co-founder Jaran Mellerud.
“Putting everybody into consensus and changing such a core principle of bitcoin is impossible in any short time frame such as a few years. What will be the case in 10 years and more is another matter and nobody has an answer to that.” On the halving date, for a miner whose cost of mining 1 BTC was $35,000 per BTC, the cost would suddenly increase overnight to $70,000 per BTC, New Layer Capital’s Safford explained.
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