Bitcoin halving ‘blood bath’ could push US miners offshore

0

Hashlabs Mining co-founder and chief mining strategist Jaran Mellerud said Ethiopia, Nigeria, Kenya, Argentina and Paraguay could pick up more hash rate in the coming years.

Potential sluggishness in the price of Bitcoin after the Bitcoin halving could tank the share prices of high-cost public miners in the United States, forcing some to even move offshore.

“We might see a mining stock blood bath as investors realize these companies are barely making money,” says Jaran Mellerud, founder and chief mining strategist of Hashlabs Mining, referring to what could happen if the Bitcoin (BTC) price doesn’t rise substantially after the halving.

Mellerud is now eyeing the three to four-month window after the halving to see the extent to which miner profitability is pressured by the slashing of block rewards.

Read more

Leave a Reply

Your email address will not be published. Required fields are marked *