Benchmark: Bitcoin miners are better positioned for this halving

PANews, April 19, according to Benchmark’s latest research report, Bitcoin miners are in a better position for the upcoming halving event, thanks to the sharp rise in Bitcoin prices over the past six months. The report notes that Bitcoin is up approximately 140% over the past two quarters, while Ethereum (ETH) is up 85%. The halving event, which is expected to occur late tonight or early tomorrow UTC, will reduce the Bitcoin supply growth rate by 50%. Additionally, Bitcoin miners can offset the impact of reduced rewards with a potential increase in network fees. The report mentioned that if history repeats itself and Bitcoin prices rise strongly in the months following the halving event, the economic impact on miners may lessen over time. In addition, the demand shock following the approval of Bitcoin spot exchange-traded funds (ETFs) in the United States in January may amplify the impact of the halving on cryptocurrency prices.