Computing power on the bitcoin network, known as the hash rate, could drop by as much as 30 percent after bitcoin’s next halving event in April 2024 as unprofitable miners shut down their machines, industry experts predicted in Twitter Spaces hosted by CoinDesk.
Lucas Pipes, managing director of investment bank B. Riley Financial, estimates that Bitcoin hash rate will drop by 15% to 30%, and Colin Harper, head of content at mining services company Luxor Mining, said a drop of 20% is possible.