After the Bitcoin halving, where do miners go?
The fourth Bitcoin halving has been completed, and the block reward has decreased to 3.125 BTC, leading to a direct halving of miner income. Some inefficient mining farms face elimination, while miners with advanced mining machines (such as Antminer S21) remain competitive. Mining companies are shifting towards diversified businesses such as AI computing power and energy optimization. In the long term, halving typically drives bull markets, but in the short term, miner selling pressure may exacerbate market volatility. Investors can pay attention to mining stocks (such as Marathon, Riot) and hash rate derivatives to grasp industry trend changes.