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How Miners Are Preparing for the Next Bitcoin Halving

How Miners Are Preparing for the Next Bitcoin Halving
Bitcoin’s fourth “halving” next April poses miners with strategic questions around equipment, energy use and diversification. This story is part of CoinDesk's Mining Week 2023.

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Bitcoin miners are gearing up for the next halving, which is set to take place on April 16, 2024. As the block rewards will be reduced from 6.25 bitcoin to 3.125 bitcoin, miners are preparing for increased energy costs and potential revenue loss. To mitigate these challenges, miners are upgrading their mining fleet, seeking cheap sustainable renewable energy, building cash reserves, diversifying their businesses, and utilizing hedging techniques. Companies like Marathon Digital, CleanSpark, and Riot Platforms are making significant purchases of efficient mining machines and focusing on energy strategies to increase their revenues. Additionally, miners are also exploring high-performance computing, cloud, and artificial intelligence services to diversify their businesses. Overall, miners are taking proactive measures to ensure they are well-prepared for the upcoming halving.