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Bitcoin Miners Begin to Feel Pressure of Lower Token Rewards, Kaiko Says
More selling pressure in the cryptocurrency market is likely on the horizon as Bitcoin miners with large holdings of the digital asset face a sharp drop in revenue, according to researcher Kaiko. The main source of revenue for crypto-mining companies such as Marathon Digital, Riot Platforms and Cipher Mining was dramatically reduced by a Bitcoin code update in late April. Called the halving, such updates are preprogrammed in the blockchain to slash mining subsidy, a fixed amount of Bitcoin rewarded to miners for validating transaction data, by half every four years. The most recent halving, the fourth since 2012, cut ... (full story)