Securities Times: Bitcoin officially halved, accelerating the internal circulation of miners

Securities Times published an article stating that the official halving of Bitcoin is expected to accelerate the internal circulation of miners. It is understood that the daily output of Bitcoin varies before the halving, but all revolve around the block reward system, with an average of 6.25 Bitcoins produced every 10 minutes. Based on the previous block rewards, this is equivalent to about 900 Bitcoins produced per day. However, after the halving event, this number will become about 450 per day. If Bitcoin cannot continue its growth momentum over the past year, but maintains the pre-halving price (US$60,000 to US$65,000 per coin) fluctuations, the entire mining industry will lose more than about US$10 billion in revenue in the next year. As for the possible losses after the halving, miners are not in a hurry to sell their Bitcoin before the halving. They hope that the value of Bitcoin will rise after the halving, so as to sell more Bitcoin at a high price to offset the losses caused by the decline in production. Since there is an upper limit on the output of Bitcoin within a certain period of time, in other words, the more computing power a miner has, the greater the proportion of rewards he will receive. Marathon Digital Holdings, CleanSpark and other miners, which compete for fixed bitcoin rewards by using superfast computers to solve math problems, have invested in new equipment and sought to acquire smaller competitors this year to try to mitigate the impact of falling revenue. The impact of the bitcoin halving on miners' expected earnings has also affected the stock price performance of several miners recently. Riot Platforms and HIVE Digital Technologies, two miners, have seen their stock prices fall 26.37% and 15.58% respectively in the past month. Hut8 Mining's stock price has fallen 36.11% since the beginning of the year.