It was stated that the cost of Bitcoin (BTC) mining will increase to 40 thousand dollars after the halving.
Data and data analyst James Van Straten announced that the mining cost will increase to 40 thousand dollars after the Bitcoin (BTC) halving in 2024.
Van Straten stated that Bitcoin mining difficulty continues to increase and has reached an all-time high. According to the analyst, the current cost of Bitcoin mining is around 24 thousand dollars. It is a matter of curiosity how the costs, which will almost double after the halving, will affect the BTC price.
Critical period for Bitcoin (BTC) mining
Crypto researcher James Van Straten has produced a remarkable study. Sharing his research on the X platform, Van Straten discussed Bitcoin (BTC) mining.
With #Bitcoin difficulty continuing to increase and hitting all-time highs, and a halving approaching in April.
The current all-in cost to mine #BTC is roughly around $24,000.
By the halving, miners may be under pressure if #Bitcoin is under roughly $40,000 next year.
— James V. Straten (@jimmyvs24) October 10, 2023
According to Van Straten, with the Bitcoin halving, the cost of mining will increase to 40 thousand dollars. The analyst stated that if BTC, which is currently in the 27 thousand dollar range, does not rise after the halving, things will be difficult. Van Straten claimed that miners would be hit next year and would be on the verge of bankruptcy.
Despite the increasing obstacles and the tightness in the mining field, there is still a perception of opportunity for BTC. The pullback in the market means miners are trying harder, according to many. If the opposite happens, billion-dollar mining companies may close their doors.
The year 2024 is shown as a bullish period for BTC. One of these is shown as Bitcoin halving. Halving and mining costs generally proceed in parallel.
