There are concerns that the halving may be bad news for mining decentralization.
Industry experts are concerned the upcoming Bitcoin (BTC) halving could lead to increased centralization.
The fear is the reduction in block rewards will make older mining equipment unprofitable, concentrating hashing power in the hands of fewer miners. A trend toward mining pool centralization on the Bitcoin network has been clearly observable over the past few years, but the halving is expected to further exacerbate the issue and accelerate the trend.
Historical data gleaned from btc.com shows that from 2016 to 2021, on any given three-day period, the top two mining pools controlled around 30–40% of the hash rate.
