The Bitcoin network completes the fourth-ever ‘halving' of rewards to miners

The Bitcoin network on Friday evening completed its fourth"halving," reducing the rewards earned by miners to 3.125 bitcoins from 6.25.expecting big gains in the months ahead

"All else equal, the halving will cut industry revenues in half, triggering a wave of consolidation and business closures, while and industry capex, which is ultimately good for the remaining operators," JPMorgan analyst Reginald Smith said in a recent note to investors.USC cancels commencement speakers amid criticism over decision to stop valedictorian's speech

Mining stocks have been volatile in the days leading up to the event. Many are down by double digits for the year, after rallying between about 300% and 600% in 2023."The market so far has seen bitcoin mining stocks as mere BTC proxies, in absence of bitcoin ETFs," said Bernstein analyst Gautam Chhugani." halving would further differentiate the low cost, high-scale consolidating winners vs. rest of smaller miners which may be disadvantaged post-halving.

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