Blog-new-logo-2023Blog-new-logo-2023Blog-new-logo-2023Blog-new-logo-2023
  • CRYPTO NEWS
  • TOPICS
    • Futures Trading
    • Crypto Basics
    • DeFi
    • Metaverse
    • NFT
    • Blockchain
  • CRYPTO VERSE
    • Personal Finance
    • Cryptocurrency
    • Price Predictions
    • Crypto Deep Dives
  • PRODUCT
    • Tutorials
    • Product Features
    • Security
  • COINDCX
    • Announcements
    • Community
    • Crypto Competition
    • Listings
    • Opinion
    • Stories
Visit CoinDCX
✕
            No results See all results

            With BTC Halving 2024 Coming Closer, Only Efficient Miners of Bitcoin Can Survive

            The oldest digital asset, Bitcoin, is getting ready for its…

            8 Jun 2023 | 2 min read
            With BTC Halving 2024 Coming Closer, Only Efficient Miners of Bitcoin Can Survive

            The oldest digital asset, Bitcoin, is getting ready for its halving event, set to take place in 2024. Through an array of all-time highs and lows that the Bitcoin market has shown us since 2020, one thing remained unchanged, that is, the total availability of this particular crypto asset. There will only ever be 21 million Bitcoins available in the world.

            However, the nearing of the once in four years halving event has started to cause some expectations and actions from the crypto community. One of the most anticipated expectations from the Bitcoin community is that the Bitcoin mining hashrate, which is basically a measure of computing power that is used on the network, is likely to see a dramatical decline within a year from 2024, once the division of the mining rewards is halved.

            Read More: Bitcoin Price Prediction

            Bitcoin Halving: Key Events

            Event Date Block Number Block Reward
            Launch of Bitcoin January 2009 0 (genesis block) 50 new BTC
            First halving November 2012 210,000 25 new BTC
            Second halving July 2016 420,000 12.5 new BTC
            Third halving May 2020 630,000 6.25 new BTC
            Upcoming halving Tentative; May 2024 740,000 3.125 new BTC

            Once every four years, when the halving event takes place, the reward for the miners gets successfully cut in half. This event, known as the halving, results in reducing the inflationary pressure on Bitcoin. Since the halving event in 2020, the mining rewards have been 6.25 BTC per block, which amounts to $170,000, and in April 2024, they will be halved to 3.125 BTC per block, which amounts to $85,000.

            According to the head of research at mining consultancy Blocksbridge, Wolfie Zhao, as of today, the publicly listed miners mine BTCs at the cost of $10,000-$15,000 per bitcoin. Following the halving event of 2024, these mining costs will double in price, which will bring the miners’ breakeven point to a whopping $20,000-$30,000.

            Additional Read: Bitcoin Halving in 2024

            According to JPMorgan, the Wall Street giant, the price of Bitcoin mining has a possibility to rise as high as $40,000 after the halving. With reference to the rise in mining prices, Wolfie Zhao also said, “If bitcoin isn’t seriously above $30,000, many of them could be mining at a gross loss.“

            With the possibility of such a high cost of mining and the absence of any significant rally in the price of Bitcoin, it is said that only the most cost-efficient miners will be able to survive this, while others might be forced to shut down their operations.

            Source: CoinDesk
            Share
            CoinDCX
            CoinDCX

            Related posts

            Tron

            Tron Price Prediction: TRX Price in 2025,2026,2027 – 2030

            TRX consolidating within a narrow range could initiate a fine rise soon


            Read more
            20 Jun 2025
              | 7 min read

            Top DePIN Projects in 2025 You Need To Watch Out For

            Top DePIN projects are gaining momentum in 2025, as real-world…


            Read more
            19 Jun 2025
              | 14 min read
            Logo_CoinDCX
            Company
            • About Us
            • Blog
            • Careers
            • Fees
            • Proof of Reserves
            • Partners
            • Bug Bounty
            • Community
            • Policy
            • C.I.P. Fund
            Product
            • Spot Trading
            • Margin Trading
            • Convert
            • Futures Trading
            • Earn
            • VIP
            Support
            • 24/7 Chat Support
            • Support Center
            • Terms of Use
            • Privacy Policy
            • Risk Disclosures
            • Security
            • Terms of Use: Web3 Wallet
            • Media Kit
            Business
            • OTC
            • API Broker
            • Enterprise
            • New Coin Listing
            • Ventures
            • Affiliate
            Buy Cryptos
            • Buy Bitcoin
            • Buy Ethereum
            • Buy Solana
            • Buy Ripple
            • Buy Dogecoin
            • Buy Shiba Inu
            • Buy Pepecoin
            Price Prediction
            • Bitcoin Price Prediction
            • Ethereum Price Prediction
            • Ripple Price Prediction
            • Dogecoin Price Prediction
            • Solana Price Prediction
            • Litecoin Price Prediction
            • All Price Predictions
            Contact Us

            Press Enquiries write to [email protected]
            Regulatory Issues/Enforcement Authorities: [email protected]
            For Grievance Redressal, Click here to know more.

            Disclaimer

            Crypto products & NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information and material contained herein are subject to change without prior notice including prices which may fluctuate based on market demand and supply. The material available on the site is proprietary to CoinDCX, its parent, Licensor and/or its affiliates and is for informational purposes and informed investors only. This material is not: (i) an offer, or solicitation of an offer, to invest in, or to buy or sell, any interests or shares, or to participate in any investment or trading strategy, or (ii) intended to provide accounting, legal, or tax advice, or investment recommendations.

            *Internal CoinDCX Data as on 6th May 2025
            *Quarterly trading volume for Q4 FY’24-25. Currency conversion rate applied as in data capturing period
            *FIU Registered entity, NEBLIO TECHNOLOGIES PVT LTD
            *Certified in India for May 2023-24

            © 2024 All rights reserved

            Visit CoinDCX
                      No results See all results
                        Download App