Crypto Blog
Bitcoin has been the talk of the crypto market in recent weeks, with many investors looking forward to the upcoming halving event, set to occur in April 2024.
In the early days, mining could be done using regular home computers due to the low network difficulty and hashrate required. Over the years, mining difficulty – an indicator of the required hashing power to mine a block – has risen exponentially.In turn, the hardware and energy required for profitable mining have also increased massively.As highlighted above, Bitcoin mining has evolved dramatically since the early days when individuals would mine BTC on their home computers.Bitcoin halvings occur every four years and result in the reward that miners receive for mining new blocks being cut in half.
For this reason, many investors anticipate the halving as a potentially bullish event for Bitcoin, which has historically been the trend following previous halvings.While the upcoming halving poses challenges for established Bitcoin mining firms, it also presents opportunities for new entrants aiming to shake up the sector.
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