Tag: miners
Bitdeer to Raise $100 Million To Expand Bitcoin Mining Facility
According to informed sources, Bitdeer Technologies, a prominent crypto-miner, is in the process of seeking more than $100 million from private credit firms to facilitate its expansion strategies. The move comes in anticipation of the impending Bitcoin halving, a pivotal event for miners, just three weeks away.
Bitcoin Halving: A Milestone in the Cryptocurrency Ecosystem
The Bitcoin ecosystem cuts Bitcoin supply by 50% through the quadrennial Bitcoin halving event. This phase results in a 50% decrease in income for Bitcoin miners and has indirect implications for cross-chain interoperability. The Bitcoin halving event, which happens about every four years, is expected to reduce block rewards for Bitcoin miners.
Bitcoin Miners Get Ready as the Approaching Halving Event Nears
As the Bitcoin network approaches its halving event, which is predicted around April 20, 2024, miners and cryptocurrency aficionados are buzzing with anticipation. This occurrence, which occurs about every four years, is a critical milestone that cuts miners’ payouts in half. Currently, there are 34 days until this event, and BTC’s price has remained over $60,000, hitting approximately $74,000 on March 14.