Cutting Costs and Joining Forces, Bitcoin Miners Hoping for Rebound

Cutting Costs and Joining Forces, Bitcoin Miners Hoping for Rebound

From blockworks.co

After a rocky 2022, bitcoin miners could be in for a lucrative year, at least if past market cycle patterns repeat. The largest cryptocurrency posted a 64% loss last year, coupled with skyrocketing electricity costs around the world and a dramatic drop in mining profitability made 2022 a bust for most of the crypto mining industry. But a rebounding market and upcoming halving cycle could be the catalysts the industry needs for a turnaround. The next bitcoin halving, expected in the second quarter of 2024, should create a positive imbalance between bitcoin’s supply and demand, Christopher Bendiksen, bitcoin research ... (full story)

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