{"id":617706,"date":"2024-04-20T11:20:01","date_gmt":"2024-04-20T08:20:01","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/halving-arrives-for-bitcoin-miners\/"},"modified":"2024-04-20T11:20:01","modified_gmt":"2024-04-20T08:20:01","slug":"halving-arrives-for-bitcoin-miners","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/halving-arrives-for-bitcoin-miners\/","title":{"rendered":"#&#8217;Halving&#8217; arrives for bitcoin miners"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a22be9755573\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a22be9755573\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/halving-arrives-for-bitcoin-miners\/#Reduced_margins\" >Reduced margins<\/a><\/li><\/ul><\/nav><\/div>\n<div>\n<div class=\"article-gallery lightGallery\">\n<div data-thumb=\"https:\/\/scx1.b-cdn.net\/csz\/news\/tmb\/2024\/a-woman-uses-her-phone.jpg\" data-src=\"https:\/\/scx2.b-cdn.net\/gfx\/news\/2024\/a-woman-uses-her-phone.jpg\" data-sub-html=\"A woman uses her phone outside a cryptocurrency exchange in Hong Kong.\">\n<figure class=\"article-img\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/scx1.b-cdn.net\/csz\/news\/800a\/2024\/a-woman-uses-her-phone.jpg\" alt=\"A woman uses her phone outside a cryptocurrency exchange in Hong Kong\" title=\"A woman uses her phone outside a cryptocurrency exchange in Hong Kong.\" width=\"800\" height=\"530\"\/><figcaption class=\"text-darken text-low-up text-truncate-js text-truncate mt-3\">\n                A woman uses her phone outside a cryptocurrency exchange in Hong Kong.<br \/>\n            <\/figcaption><\/figure>\n<\/div>\n<\/div>\n<p>The bitcoin market on Friday engineered the &#8220;halving&#8221; of the reward for operating the cryptocurrency, a much-anticipated step designed to limit production and boost the digital money.<\/p>\n<p>                                                                                                                                    &#8220;The 4th #Bitcoin halving is complete!,&#8221; announced cryptocurrency exchange Binance on X, the former <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a>.<\/p>\n<p>&#8220;The countdown has been reset\u2014see you in 2028.&#8221;<\/p>\n<p>Bitcoin is created as a reward when computers solve complex puzzles to decide which miner wins the privilege to validate the block\u2014and receive the reward in bitcoins.<\/p>\n<p>However, since the digital currency&#8217;s launch in 2009, the reward has been halved for every 210,000 blocks in a process called halving.<\/p>\n<p>With one block validated roughly every ten minutes, this critical industry event occurs just under every four years.<\/p>\n<p>The reward, which was fixed since May 2020 at 6.25 bitcoins per new block, has now fallen to 3.125 bitcoins.<\/p>\n<p>Bitcoin was conceived in 2008 by a person or group writing under the pseudonym Satoshi Nakamoto.<\/p>\n<p>The halving process slows the rate at which new bitcoins are created, thereby restricting supply.<\/p>\n<p>The reward amount has been trimmed over time, via halving, to implement Nakamoto&#8217;s overall global limit of 21 million bitcoins.<\/p>\n<p>But this ceiling is due to be reached by 2040.<\/p>\n<div class=\"article-gallery lightGallery\">\n<div data-thumb=\"https:\/\/scx1.b-cdn.net\/csz\/news\/tmb\/2024\/a-man-walks-past-a-bit.jpg\" data-src=\"https:\/\/scx2.b-cdn.net\/gfx\/news\/2024\/a-man-walks-past-a-bit.jpg\" data-sub-html=\"A man walks past a bitcoin poster in Hong Kong on April 15, 2024.\">\n<figure class=\"article-img text-center\"><img decoding=\"async\" src=\"https:\/\/scx1.b-cdn.net\/csz\/news\/800a\/2024\/a-man-walks-past-a-bit.jpg\" alt=\"A man walks past a bitcoin poster in Hong Kong on April 15, 2024\" title=\"A man walks past a bitcoin poster in Hong Kong on April 15, 2024.\"\/><figcaption class=\"text-left text-darken text-truncate text-low-up mt-3\">\n                A man walks past a bitcoin poster in Hong Kong on April 15, 2024.<br \/>\n            <\/figcaption><\/figure>\n<\/div>\n<\/div>\n<p><b>Controlling supply<\/b><\/p>\n<p>&#8220;The primary purpose of halving is to control bitcoin&#8217;s supply,&#8221; City Index analyst Matthew Weller said in a research note ahead of the event.<\/p>\n<p>&#8220;By slowing the rate at which new bitcoins are created, halving helps to maintain scarcity and potentially increase the cryptocurrency&#8217;s value, assuming demand remains steady or increases,&#8221; he added.<\/p>\n<p>The price of bitcoin has blazed a record-breaking trail on the prospect of reduced supplies, as well as big moves toward greater trading accessibility.<\/p>\n<p>Bitcoin has rocketed by 50 percent in value since the start of the year, climaxing last month at a record $73,797. Prices have fallen in recent days.<\/p>\n<p>&#8220;This is the first time that bitcoin beat the previous historical record before the halving has even taken place,&#8221; said eToro analyst Simon Peters, noting there had been a pullback in recent days.<\/p>\n<p>Commercial bitcoin mining companies operate thousands of computers in huge hangers or warehouses, consuming large amounts of electricity at a vast cost.<\/p>\n<p>Halving therefore represents a major survival test for such companies because it slashes their main income source.<\/p>\n<p>                                                                                                        <!-- TechX - News - In-article --><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Reduced_margins\"><\/span>Reduced margins<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Faced with the prospect of reduced margins, bitcoin players have invested heavily in cutting-edge new computers, in tandem with an efficiency drive which in particular seeks to slash energy costs.<\/p>\n<p>In addition, some mining companies will have to &#8220;turn off some of their machines to cut costs, which equates to fewer bitcoins being created,&#8221; said Manuel Valente, founder of cryptoasset investment group Coinhouse.<\/p>\n<p>&#8220;And if the price of bitcoin goes down, their profitability decreases&#8221; further, he told AFP.<\/p>\n<p>Halving therefore exposes the weakest bitcoin mining firms, and could potentially spark a fresh wave of sector consolidation in a survival of the fittest, commentators say.<\/p>\n<p>At around 0030 GMT, after the halving had taken place, the price of bitcoin was up 0.7 percent at $63,467.46.<\/p>\n<p class=\"article-main__note mt-4\">\n                                                \u00a9 2024 AFP\n                                            <\/p>\n<p>                                        <!-- print only --><\/p>\n<div class=\"d-none d-print-block\">\n<p>                                                <strong>Citation<\/strong>:<br \/>\n                                                &#8216;Halving&#8217; arrives for bitcoin miners (2024, April 20)<br \/>\n                                                retrieved 20 April 2024<br \/>\n                                                from https:\/\/techxplore.com\/<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>\/2024-04-halving-bitcoin-miners.html<\/p>\n<p>                                            This document is subject to copyright. 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The bitcoin market on Friday engineered the &#8220;halving&#8221; of the reward for operating the cryptocurrency, a much-anticipated step designed to limit production and boost the digital money. &#8220;The 4th #Bitcoin halving is complete!,&#8221; announced cryptocurrency exchange Binance on X, the former Twitter. &#8220;The&#8230;<\/p>\n","protected":false},"author":1,"featured_media":617707,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/scx2.b-cdn.net\/gfx\/news\/2024\/a-woman-uses-her-phone.jpg","fifu_image_alt":"","footnotes":""},"categories":[16],"tags":[],"class_list":["post-617706","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sciencee"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/617706","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=617706"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/617706\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/617707"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=617706"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=617706"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=617706"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}