Bitcoin block reward halving is one of the uniquely programmed mechanisms. Halfway cannot be postponed or canceled by looking at market developments.
Bitcoin, which has seen two halves before, is planned for the next Bitcoin half in May, and there is a lot of concern about the half due to current market conditions.
Bitcoin Price and Mining Profitability
Gate.io conducted a study on the price level that BTC should reach in order for Bitcoin miners to be profitable.
The terminology used in the report created within the scope of the study means “Closing Price” and means that miners are more likely to lose capital if the value of BTC falls below the closing price of a mining rig. In the report published by Gate.io, the calculation method of ‘Closing Price’ is explained as follows:
Closing Price = Daily mining cost / amount of Bitcoin mined daily, service fee paid to the mining pool, transaction fees. Transfer fees are not taken into account in this calculation.
The analysis was made over the various mining equipment in the table below.
Looking at both tables, it is concluded that the lowest price point after Bitcoin halfway should be approximately $ 7,234 for the “AntminerS19 Pro” which is not yet available on the market.
With the split, even though miners can change their mining rig to accumulate more profits, the basic price for profit needs to be $ 7,200 per Bitcoin.
Currently, Bitcoin was at $ 6,190 but there was a terrible drop on March 12. Although recovery seems to have healed wounds, such price fluctuations do not seem very healthy for the current market.
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