How Bitcoin miners can survive a hostile market — and the 2024 halving
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Only seven months remain before the next Bitcoin (
As the number of inscriptions rises — surpassing 25.5 million as of August — so does the revenue generated from transactions, which presently stands above $53 million. This trend suggests that alternative income streams for miners may gain prominence in the long term.
We see Ordinals shifting the profitability equation for miners, increasing user demand for creating inscriptions, initiating processing transactions on the Bitcoin network, and incentivizing miners to include their transactions in the next block.
We can certainly expect more developments on top of the Bitcoin network that will enable miners to adapt more effectively to the post-halving landscape. As we move closer to the halving event, miners must prioritize the aforementioned strategies to optimize their profitability and stay open to new alternatives on the horizon.
Didar Bekbauov is the CEO of Bitcoin mining company Xive, which he co-founded in 2019. He previously served as a managing partner at Hive Mining. He holds an undergraduate degree from Kzak-British Technical University and a master’s degree in financial management from the United Kingdom’s Robert Gordon University. He also acts as a mentor at the Founder Institute startup accelerator program in Houston, Texas.
This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
