Summary
Bitcoin prices surged after the last halving in May 2020, leading to an increase in miners. However, this time around, there is fierce competition among large-scale miners as rewards are set to halve and mining difficulty has reached an all-time high, making post-halving mining more challenging.
Key Points
1. Bitcoin experienced a significant price increase following the last halving in May 2020, attracting more miners to join the market.
2. The current mining landscape is much more competitive, with a larger number of large-scale miners vying for reduced bitcoin rewards after the upcoming halving event.
3. The difficulty of mining a block has reached an all-time high, adding another layer of challenge for miners post-halving.