Bitcoin halving to raise ‘efficient’ BTC mining costs to $30K
Bitcoin (BTC) Ordinals are enhancing miner revenues, but “income tension” is looming, new research warns.In the most current edition of its weekly newsletter, “The Week On-Chain,” analytics firm Glassnode anticipated fresh issues for miners after Bitcoins next block subsidy halving.Bitcoin cutting in half impact on miners might be “severe”Bitcoin miner competitors is exploding, with hash rate– the approximated combined processing power deployed to the blockchain– at record highs.For Glassnode, this shows unmatched conditions for miners trying to eke out a living at present BTC cost levels.Ordinal engravings are helping, with these acting as “packing-filler” which turns empty blockspace into a source of income for miners. Source: GlassnodeA previous model put the average miner acquisition cost at $24,300 per Bitcoin– around 8% below spot as of Sept. 28. Source: GlassnodeBTC cost incentivesOthers are more optimistic about how miners will handle the build-up to the halving.Related: Bitcoin exchange volume tracks 5-year lows as Fed inspires BTC hodlingIn an interview with Cointelegraph this month, expert Filbfilb, co-founder of trading suite DecenTrader, reiterated that miners would up BTC accumulation in advance of the occasion.
Bitcoin (BTC) Ordinals are boosting miner profits, however “earnings stress” is looming, new research study warns.In the most current edition of its weekly newsletter, “The Week On-Chain,” analytics firm Glassnode anticipated fresh problems for miners after Bitcoins next block subsidy halving.Bitcoin halving effect on miners might be “severe”Bitcoin miner competition is taking off, with hash rate– the approximated combined processing power released to the blockchain– at record highs.For Glassnode, this shows unprecedented conditions for miners trying to eke out a living at present BTC rate levels.Ordinal engravings are helping, with these acting as “packing-filler” which turns empty blockspace into a source of income for miners. Source: GlassnodeA previous design put the typical miner acquisition price at $24,300 per Bitcoin– around 8% listed below area as of Sept. 28. Source: GlassnodeBTC price incentivesOthers are more positive about how miners will manage the accumulation to the halving.Related: Bitcoin exchange volume tracks 5-year lows as Fed motivates BTC hodlingIn an interview with Cointelegraph this month, analyst Filbfilb, co-founder of trading suite DecenTrader, restated that miners would up BTC accumulation in advance of the occasion.