Summary
TLDR: Bitcoin mining rewards were cut in half on Friday, known as a Bitcoin halving event that occurs every four years. The event historically has led to price increases for Bitcoin. Despite uncertainty, analysts predict a peak in the market between late 2024 and early 2025. Mining companies are preparing for lower rewards per block, with some expected to struggle due to higher costs. Larger players may acquire smaller companies or assets in the industry.
Key Points
1. Per-block bitcoin mining rewards officially dropped at 8:10 pm ET Friday in New York, marking the arrival of a rare industry event expected to spur ripple effects.
2. Known as a Bitcoin halving, such events happen roughly every four years. With the 2024 halving complete, the block reward that miners collect now stands at 3.125 BTC — down from 6.25 BTC.
3. Bitcoin’s 840,000 block was mined by ViaBTC Friday evening.