Energy Costs Slashed for Cloud Miners To Make Up For Bitcoin Reward Halving
Mining software companies try to reduce costs of Bitcoin mining meeting the challenge brought about by the cutting in half of the block rewards. Hashflare has joined the list of Bitcoin mining companies that are working out a way to cut the cost of energy needed for their operations. Energy supply has been a topical issue of late for mining operations particularly around the halving period as it is a great determinant to ensure a lower operational cost and to maximize profit. A report says some of the mining companies in parts of China recently met to discuss how to “share power grid and....
Related News
Bitcoin mining company Hashflare has claimed another cut in the cost of energy needed for its operations. It announced to its users that the Maintenance and Electricity Fee (MEF) has been slashed by 25%. As was the case last month, Hashflare slashed its energy cost to enable its miners to earn more profit. It says via email: “As a result of our work, we have managed to reduce the MEF for SHA-256 contracts by additional 25%, from 0.006 USD per 10 GH/s to 0.0045 USD per 10 GH/s. We are sure that there are greater results to be achieved in the future.” Dwindling lack of interest. Despite....
A day to block reward halving, Hashflare has become one of the first Bitcoin mining companies to inform their miners that the proposed reduction in the mining reward will affect their payout, though it didn’t say by how much. In a message to its miners via email, Hashflare says: “We would like to remind you that this weekend Bitcoin mining reward will be reduced by 50%. This process, namely halving, is a part of Bitcoin system script and occurs every 210 000 blocks. The last halving was 4 years ago and the block reward went down to 25 BTC from 50 BTC. “The halving will occur on Saturday,....
Just as Bitcoin’s block reward halved in the past, Litecoin will undergo the same same process on Tuesday, August 25th. In anticipation of the halving, the Litecoin Association says that it is a milestone in the cryptocurrency’s 4-year history. The association also released a video that elaborates the entire process of Litecoin’s halving, informing that after the halving, Litecoin will reward miners with 25 coins rather than 50 coins per block. The video also explains that the halving process happens every four years for both Litecoin and Bitcoin, as dictated by their respective protocols.....
Bitcoin mining fundamentals are growing stronger as miners are making a killing from higher BTC price According to data from Glassnode, Bitcoin (BTC) miners made over $4 million in just under an hour on Feb. 12, making it the biggest hourly revenue in history.In May 2020, Bitcoin underwent the third block reward halving in its history, cutting the amount of new Bitcoin mined in half.After a block reward halving, the amount of BTC miners can mine using computing power decreases by half. Hence, miner revenues decrease by 50% overnight, which could cause strain on mining operations in the....
Bitcoin has now successfully undergone its fourth halving event, with miners’ block rewards slashed in half again (from 6.25 to 3.125 BTC). The Bitcoin halving (also called “the halvening”) is programmed to happen every 210,000 blocks – approximately every four years. With miners set to receive 50% fewer BTC, the rate of Bitcoin creation will […]