The bitcoin halving event (BTC-USD) is approaching, likely to occur over this weekend and decrease the reward for bitcoin mining operators. Could the crypto asset stand to face even more pricing pressures from the halving since falling off from its all-time high? How will miners react to steepening profit margins?
CleanSpark CEO Zach Bradford (CLSK) joins Yahoo Finance to give insight into the bitcoin halving and what crypto traders can expect from bitcoin prices, crypto mining, and the larger cryptocurrency landscape.
Bradford talks on how he envisions CleanSpark’s operating margins post-halving:
“Although we will go from about 900 new bitcoin a day being produced to 450. What that means is the efficient miners who have good solid margins will continue to have margins that are very healthy, but miners that were maybe smaller, didn’t have scale, or were inefficient when it comes to their energy usage therefore their costs are higher, they won’t be able to keep running their machines and as a result there will be less participants taking a piece of the pie. And therefore the large miner, our piece of the pie should get bigger after halving. We think to the tune of 10, 15, or even 20%.”
Want to learn more about the bitcoin halving? Watch this video from Yahoo Finance for a quick explainer: Bitcoin halving: Explained
For more expert insight and the latest market action, click here to watch this full episode.
This post was written by Nicholas Jacobino
