The 2024 Bitcoin halving event has led to substantial changes in the mining landscape, as highlighted by Coin Metrics' recent "State of the Network" report. Analyst Matías Andrade notes that this halving, which reduced block rewards from 6.25 BTC to 3.125 BTC, has severely impacted miners' earnings.
This has spurred a battle for hashrate dominance, reshaping how miners approach their operations. The introduction of new technologies is playing a crucial role in these changes, altering the traditional dynamics of Bitcoin mining.
As a result, the post-halving period has triggered significant shifts in the industry, with miners adapting to maintain profitability in this new environment.
