Coinify CEO Says Bitcoin Mining Will Become Unprofitable After Tomorrow’s Halving

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Despite experts’ belief that Bitcoin will maintain its position following the halving, it will lead to a decrease in mining profitability for many cryptocurrency companies.

The block reward will be reduced from 6.25 BTC to 3.125 BTC this week.

CEO of Coinify, Ricky Stier, cautions miners that they may face unprofitable mining operations after the halving and urges them to review their strategies to stay productive.

It is likely that many miners will have to pause their mining efforts, and Stier also predicts that equipment manufacturers will need to lower prices in order to sell the accumulated ASIC miners.

This period of crisis usually lasts no longer than 16 months. As with previous halvings, Bitcoin is expected to increase in value following this stage, according to Stier.