EXCLUSIVE: Bit Digital CEO Says 'After the halving, miners will earn 3.125 BTC per block, which basically means that they will earn half the reward for the same amount of work.'
Portfolio Pulse from Benzinga Newsdesk
Bit Digital's CEO announced that post-halving, miners will receive 3.125 BTC per block, halving their reward for the same effort. This statement directly impacts the outlook for Bit Digital and the broader cryptocurrency mining industry.
April 10, 2024 | 1:48 pm
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NEGATIVE IMPACT
The halving event will reduce Bit Digital's mining rewards per block to 3.125 BTC, potentially impacting its revenue and profitability.
The halving event directly reduces the reward for mining activities, which is a primary revenue source for Bit Digital. This reduction in rewards per block could lead to decreased revenue and profitability in the short term, assuming the price of Bitcoin does not increase significantly to offset the reduced block reward.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100