Meet the bitcoin miners racing to crack codes as the cryptocurrency surges | The Business
Bitcoin continues to hover close to record highs, giving new hope to crypto miners. Last financial year, Australia’s largest miner Iren made a loss of more than a quarter of a billion dollars. Subscribe:
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It’s hoping to turn that around as the price surges. But sceptics warn the bubble could still burst.
Bitcoin’s code also halves the reward given to miners roughly every four years.
This so-called “halvening” is next expected in May. Once 21 million coins are released, fresh supply will stop entirely.
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