Bitcoin Halving: How Miners Prepare for Lower Block Rewards
As the newest Bitcoin halving approaches, miners are upgrading gear, optimizing preparations, conserving energy and extra within the race to dominate.
How are bitcoin (BTC) miners strategizing for the upcoming halving occasion, wherein block reward subsidies might be minimize by 50 %?
On this week’s episode of “Bitcoin Halving 2020: Miner Views,” Kristy-Leigh Minehan and Pavel Moravec give an in-depth clarification of what miners are doing to maximise income and improve operational effectivity.
Since October, Minehan explains, bitcoin mining farms have been getting on “the improve prepare” and buying state-of-the-art ASIC machines reminiscent of the Antminer S17 and S19. Moravec says bitcoin miners have additionally been inventive methods to chop electrical energy prices by leveraging surplus power from sure cities’ energy grids.
What began primarily as a passion in 2009 has flourished through the years, gained broader adoption and in the end advanced into a brand new, skilled trade.
“We’ve gotten to some extent in bitcoin’s historical past the place the federal government is paying consideration and has began to appreciate bitcoin isn’t going away,” Minehan mentioned. “Mining will not be going away. And it’s of their finest curiosity to start out working with miners.”
Teaming up with native governments and utility suppliers is one other miner technique each Minehan and Moravec have seen on the rise lately. For this reason Minehan believes even the geographic distribution of miners, which was mentioned in depth in an earlier podcast episode, might additional stretch the trade into North America and Europe. (China stays the dominant locale.)
For extra details about the bitcoin halving, CoinDesk Analysis just lately revealed a 30-page report that options extra commentary from Minehan, Moravec and different mining trade consultants. The report is free to obtain on the CoinDesk web site.