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Bitcoin miners are making hay while the sun shines. The next halving is expected in April 2024, a process designed to slow the release of bitcoin, whose supply is capped at 21 million - of which 19 million have already been mined. "You're seeing a lot of urgency to plug rigs in ahead of the halving," said Gregory Lewis, analyst at brokerage BTIG that covers the 13 biggest U.S.-listed bitcoin miners.
Bitcoin miners are making hay while the sun shines. The business has been yanked out of the doldrums by the cryptocurrency's recent rally - and now mining companies are racing to lock in...
The business has been yanked out of the doldrums by the cryptocurrency's recent rally - and now mining companies are racing to lock in profits before bitcoin's "halving", when rewards for producing the tokens are cut in half.
Mining companies race to lock in profits before next April
The business has been yanked out of the doldrums by the cryptocurrency’s recent rally