The fourth Bitcoin halving is coming on April 16, 2024. Block rewards will reduce from 6.25 $BTC to 3.125 BTC, per block. Here's a look at how miners ar preparing for MiningWeek, presented by FoundryServices:
As Bitcoin’s halving date approaches, miners are already carrying extensive research and planning. They are studying previous halvings' effects on the Bitcoin network and analyzing how the cryptocurrency market reacted during those times, helping them understand potential challenges and opportunities.
As a result, miners face double the energy costs to mine a single bitcoin, though they can mitigate these shortfalls by installing more efficient machines, managing their energy use optimally, putting aside cash reserves and hedging the risk on the financial markets.
CleanSpark are already developing automation that allows for the maximization of uptime and firmware that provides them the ability to underclock and overclock as the situation presents itself, along with managing their power strategy in Georgia , thereby placing them in a great position come the halving.
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