CLSK - Bitcoin Halving Event Could Be A Potential Game-Changer For Mining Industry: JPMorgan | Benzinga
The upcoming Bitcoin (CRYPTO: BTC) halving event, expected on April 20, could impact the Bitcoin mining industry, according to a recent JPMorgan report.
What Happened: The report by analysts Reginald Smith and Charles Pearce highlights the potential implications of the Bitcoin halving event, which will reduce the block reward for mining new bitcoins by 50%. This reduction could lead to a wave of consolidation and business closures within the industry, while potentially benefiting the remaining operators.
The industry’s gross profits, currently estimated at around $2.5 billion per quarter, are projected to decline by 30% to 40%. The network hashrate, a measure of the computational power dedicated to mining, could decrease by as ...