Bitcoin's Next 'Halving' Is Right Around the Corner. Here's What You Need to Know

Litigation attorney Andrew Balthazor was cited in an Associated Press article about the upcoming "halving" event for Bitcoin, where the reward for mining new bitcoins will be reduced by 50 percent. The article discussed the potential implications of this event on bitcoin's price and the mining industry. It also highlighted the potential for industry consolidation and environmental concerns surrounding bitcoin mining's energy consumption. Mr. Balthazor cautioned that miners should plan for "extreme volatility" rather than assuming bitcoin prices will skyrocket. He also emphasized the need for miners to have a resilient business model to navigate the challenges posed by the halving, such as compensating for the reduced rewards while managing operating costs.

"Even if there's a slight increase in bitcoin price, (halving) can really impact a miner's ability to pay bills," he said.

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