CoinShares: Top Miners Are Well-Posed for the 2024 Halving

Leading Bitcoin mining companies like Riot Blockchain, TeraWulf, and CleanSpark are best positioned to navigate the upcoming Bitcoin halving event in April
CoinShares Top Miners Are Well-Posed for the 2024 Halving

According to a new analysis by CoinShares, top Bitcoin mining firms like Riot Blockchain, TeraWulf, and CleanSpark are best positioned to handle the impending Bitcoin halving event in April 2024.

The average cost of producing a Bitcoin is predicted to grow from about $25,000 to $37,800 following the halving, which would result in a big increase for miners.

Riot, TeraWulf, and CleanSpark, on the other hand, have more robust cost structures. Riot, in particular, can endure extended periods of low Bitcoin values below $40,000 thanks to its lengthy financial runway. Some miners have had difficulty; Core Scientific was forced to file for bankruptcy as a result of their excessive debt payments.

According to CoinShares, the price of Bitcoin must remain above $40,000 in order for the majority of miners to break even following the halving. A prolonged drop below this level will probably cause many miners to start depleting their cash reserves in order to survive.

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