Analysts of US banking giant JPMorgan stated that the upcoming Bitcoin (BTC) halving could be a stress test for miners.
senior analyst Nikolaos Panigirtzoglou led by JPMorgan analysts Thursday, July 13 In a report published today, the upcoming Bitcoin halving included the possible effects for miners and pointed out that it could be a stress test.
2024 Reminding that the rewards given to miners will decrease with the Bitcoin halving, which is expected to be experienced in 2018, analysts said, in profitability ratios accompanied by a sudden change problem of adaptation to new conditions claimed to create.
analysts electricity costs explained that it can play an important role in the attitude of miners with the following statements:
Miners with lower electricity costs may cope more easily after the halving event, while miners with higher electricity costs may struggle after the halving event.
According to analysts, although the halving event positive for bitcoin price Although there is a threshold, the cost of production has historically been a Minimum price This can cause difficulties in mining activities, as it acts as a
Electricity cost calculation in Bitcoin mining $0.01 change per kWh in production cost $4,300 While it is stated that it causes an increase, the change to be experienced after the halving $8,600 was calculated as.
According to our current Bitcoin production cost model, a one cent change in electricity cost per kWh results in a $4,300 change in Bitcoin production cost. Post-halving, this sensitivity will double to $8,600, increasing the vulnerability of higher-cost producers.
The upcoming Bitcoin halving, according to data provided by Nicehash April 9, 2024and block rewards 6.25 BTC to 3.125 BTC will fall.