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Report: For Crypto Miners, Bitcoin's Halving Could Mean A Doubling In Costs

2020-02-15 05:58 Saturday
According to CoinDesk, Bitcoin investors speculate the upcoming halving could send prices skyrocketing to $90,000 or higher. To the operators of high-speed computers used to mine for bitcoin, the halving looks more like a doubling, of costs.In a new report, the crypto-focused research firm TradeBlock estimates the average cost to mine a single bitcoin (BTC) could jump to $12,525 after the halving, expected in May. That's nearly double the average cost of $6,851 now. Essentially, miners will have to run twice the number of computations, with a corresponding increase in electricity usage, to get the same amount of bitcoin they're getting now.