Coin Metrics: Innovative Tech Drives Change in Bitcoin Mining Post-Halving
The April 2024 Bitcoin halving, which reduced block rewards from 6.25 BTC to 3.125 BTC. Hit miner earnings hard, leading to a drop in BTC-denominated revenue per terahash.
However, a surge in Bitcoin’s price above $105,000 helped boost USD-denominated revenue. Though profitability still lags pre-halving levels. Coin Metrics’ report highlights that leading mining companies. Like Hut8, Bitdeer, and Core Scientific, outperformed Bitcoin’s price growth, with substantial stock gains.
The key to success lies in operational efficiency, strong financials, and upgrading mining rigs, with S19-series ASICs now dominating the network. Miners are urged to innovate and optimize to stay competitive as the industry navigates post-halving challenges.
Clever Robot News Desk 19th December 2024
