In April, the cryptocurrency market anticipates the Bitcoin halving, and this is causing diverse reactions among miners. While some may panic and hastily sell off their equipment to hedge risks, others are looking for new sources of income and are even ready to change the venture. Amid these changes, ordinary miners are concerned about how to sustain their income and navigate challenges posed by the halving.
How Will Halving Affect Miners?
Bitcoin halving is a process that cuts miners’ rewards in half. This mechanism is built into the coin’s algorithm as a safeguard against inflation and occurs roughly every 210,000 blocks, or every four years.
At its inception, miners were rewarded with 50 BTC for each successfully mined block. Following the initial halving, this reward was reduced to 25 BTC, then to 12.5, and subsequently to 6.25, the current reward. With the upcoming halving, the number of BTC will drop to 3.125.
The halving impacts miners’ revenue directly, as they get income both from the blocks they mine and from network transaction commissions, with the bulk of their profits…
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