The Great Enigma of Bitcoin Halving in 2024: Will Miners Survive?

In the dizzying world of cryptocurrencies, an event looms on the horizon with the promise of shaking the foundations of Bitcoin mining: the 2024 halving. This phenomenon, which occurs every four years, is more than just a reduction to the half block rewards; It is a turning point that could redefine the profitability of Bitcoin mining.

What is Halving and why does it matter?

Halving is a mechanism built into the Bitcoin protocol that halves the number of new bitcoins generated per block approximately every four years. The next halving is scheduled for April 2024, and with it, the block reward will decrease from 6.25 BTC to 3.125 BTC.

For mining to remain profitable after the halving, the price of Bitcoin must maintain or, ideally, increase. However, price is not the only factor; Energy efficiency and technological innovation also play crucial roles. Miners must adapt, optimizing their operations and seeking cheaper and more sustainable energy sources.

The most advanced and efficient mining machines will be the key to surviving in the post-halving era. Models like the Bitmain AntMiner S19 Pro and AntMiner T19 stand out for their energy efficiency and hash rates, offering a glimmer of hope for those miners looking to stay afloat in turbulent waters.

The main Bitcoin mining pools are distributed around the world, offering miners the possibility of joining forces to increase their chances of mining blocks and obtaining rewards. Here is a list of some of the most prominent mining pools:

Foundry USA: Based in the United States, Foundry USA has enjoyed the highest hashrate on the Bitcoin network during the first three months of the year.
AntPool: Operating since August 2014, AntPool is headquartered in China and is one of the longest-standing pools on the market.
F2Pool: Started in April 2013 as Discuss Fish, F2Pool is another of the oldest and most recognized pools, with a presence in several regions of the world.

Currently, Bitcoin mining pools offer different payment methods and fees that can influence your earnings. For example, some use the PPS (pay-per-stake) system, where a fixed fee is paid for each block mined. Pool rates may vary, but here are some examples:

• BTC.com: Offers a PPS system with a 1.5% commission.
• Antpool: Uses an age-based scoring system with a commission between 3% and 5%.
• Slushpool: Also with an age-based scoring system, it has a 2% commission.
• ViaBTC: It offers PPS, PPLNS (payment for the last N participations) and FPPS (full payment per participation) systems with commissions between 2% and 4%.
• F2Pool: With PPS and PPLNS systems, your commission is between 3% and 5%.

After the halving, Bitcoin miners will need hardware that is extremely efficient in terms of energy and hashing power to remain profitable. Here is a list of some of the best Bitcoin mining hardware that could be relevant after the halving:

• DragonMint T1: Known for its energy efficiency and high hash rates.
• Antminer T9+: A cheaper but still efficient option for mining Bitcoin.
• Antminer R4: Designed for home use, it combines efficiency with a lower noise level.
• Avalon6: Suitable for beginners in Bitcoin mining.
• Antminer S9: One of the most popular and reliable miners on the market.
• PangolinMiner M3X: An alternative to Bitmain products if you are looking to diversify.

The 2024 halving is a reminder of the dynamic and evolutionary nature of Bitcoin. Although the future is uncertain, one thing is certain: the Bitcoin mining community faces a challenge that will require ingenuity, adaptability, and a long-term vision to continue to thrive in the exciting world of cryptocurrencies.