CandleFocus Bitcoin’s halving upending global solo-mining profitability
2024-10-04
Author: Content Editor
The cost of mining one Bitcoin has significantly increased since the halving in April. Countries with affordable electricity, including Ireland and the US, are now operating at a loss when mining Bitcoin. On the other hand, countries that have banned Bitcoin, such as China, offer favorable energy pricing for mining operations. Some European countries, like Germany and the UK, have high-energy tariffs that make mining Bitcoin much more expensive. The halving, which occurs every four years, has made it more difficult for new Bitcoin to enter circulation, prompting miners to seek low-energy countries or face legal repercussions. Even institutional miners have been affected, with some considering selling their businesses or consolidation with other mining companies.
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