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Three bitcoin mining metrics point to uncertainties in a post-halving era

Quick Take

  • A week after the halving, the network hash rate is trending down and inefficient mining hardware is being taken offline
  • An upcoming rainy season and fluctuating profitability margins may impact miner behavior moving forward
  • Miners also demonstrated a tendency to hoard BTC a few days before the halving, as the Miners’ Inventory Index indicates
For bitcoin miners, there are a few variables that matter the most when it comes to making money: hash rate, the cost of electricity, and bitcoin's price.

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