Published on 26 Apr 2024 on Zacks via Yahoo Finance
3 Bitcoin Mining Stocks to Watch After the April Halving
With the scheduled April Bitcoin (BTC) halving behind us, it is widely anticipated that the supply crunch resulting from the reduced gamut of Bitcoins will lead to a price appreciation for the digital asset in the coming months.
It is of paramount importance to understand what Bitcoin halving translates into. Since Bitcoin “miners” validate and record the transactions, they receive both a block reward from the Bitcoin network and transaction fees from the retail consumer making the transaction. Bitcoin halving reduces the former by half, with a target to restrict the entire global circulation of Bitcoins at 21 million. Thus, demand for new Bitcoins rises, thereby pulling the price up.