Bitcoin (BTC)
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News
12 мая 2020

Bitcoin hash rate nears all time highs post-halving

Despite a 50% overnight decrease in revenue, new miners continue to come online pushing hash rate near all time highs. Yesterday Bitcoin underwent its third halving with new issuance dropping from 12.5 BTC to 6.25 BTC per block. At today’s prices this amounts to a $7.1 million subsidy from new issuance or half of the $14.2 million it would be under a 12.5 BTC regime.

Why it matters: - Heading into the halving there were fears of miners shutting off due to an overnight collapse in revenue. While this prediction was inherently flawed because miners cannot shut off overnight, the expectation is that inefficient miners could capitulate over the next few months without a price increase from here - In an April interview, Blockware Solutions CEO Matt D’Souza predicted that about 27%–35% of hash rate could go offline if Bitcoin remains below $9,000 for several weeks post-halving

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