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Bitcoin’s Halving Could Double Production Costs For Miners

Bitcoin’s surge past the $10,000 mark is, according to many observers, an expected bull run before the halving event slated for later in the year. With Bitcoin’s halving, the scarcity of the king coin is going to increase dramatically and may cement its position as a significant competitor to gold. In a recent Tales from the Crypt podcast, Co-Founder and CEO of Hashr8OS, Whit Gibbs spoke about the upcoming halving event and the role of dedicated mining hardware currently in the market.


With regard to mining hardware, today ASICs dominate mining pools around the world and are the go-to choice for most miners. Gibbs highlighted how the community’s reliance on ASICs has further strengthened China’s position as a mining hub. Today, the 5 largest mining pools are based out of China according to a recent news report.


Gibbs said,


“Right now, because of the logistics of it all, to get ASICs from China to anywhere else in the world, takes quite a long time. Whereas the Chinese miners can get them quickly, so quickly, in fact, that they can actually buy them mine profitably and then sell them to the western world.” Read More...

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