Bitcoin Miners Gear Up for Tougher Halving in April 2028

The Bitcoin mining industry is facing a challenging period ahead of the next halving in April 2028. The block reward will drop from 3.125 Bitcoin to 1.5625 Bitcoin, but miners are already struggling with higher energy costs and record network hashrate.

Several large operators have responded by selling their Bitcoin holdings to reduce leverage on their balance sheets. MARA Holdings sold over 15,000 Bitcoin in March, while Riot Platforms and Cango also reported significant sales.

Juliet Ye, head of communications at Cango, noted that the environment heading into 2028 is very different from 2024. The widening efficiency gap between older and newer mining hardware has forced operators to make tough decisions about fleet upgrades.

GoMining CEO Mark Zalan emphasized the importance of capital discipline in this new landscape. He predicted that stronger operators will shift toward models resembling power and data center companies, with a focus on additional revenue from grid services, curtailment, and heat reuse.