For miners to remain profitable and continue their mining operation, BTC price must rise above $80,000 post-halving.
The Bitcoin (BTC) halving is a crucial milestone event after every 210,000 blocks or nearly four years. The halving event cuts the block reward earned by miners by half.
Thus, apart from an indirect impact on BTC price, the event significantly impacts miners’ behavior as mining costs double, and it costs twice to earn the same amount of BTC reward.
According to data from CryptoQuant CEO Ki Young Ju, the current cost of mining using Antminer S19 XPs will rise from $40,000 to $80,000. The rise in the price of BTC post-halving compensates for the increase in the cost of mining.
