The same cannot be said for Bitcoin miners, which are facing strong headwinds. First, the Bitcoin hashrate, a measure of network security, is near an all-time high, meaning miners need to marshal ever more computing power to earn new rewards. The Bitcoin halving, likely to occur in April, will cut the block reward in half, meaning there will be less to go around. Bitcoin Ordinals, referred to as “NFTs for Bitcoin,” are causing a rift in the community, so miners can’t rely on added fee revenue from these more novel implementations of the network.
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Author: Alex Tapscott
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