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Bitcoin price rise isn't guaranteed, Grayscale says

According to Grayscale, Bitcoin miners are facing a 'tense situation' if the price doesn't keep rising.

By Luc Vesters
• 2 min read
Bitcoin price rise isn't guaranteed, Grayscale says

Grayscale says Bitcoin miners are facing a 'tense situation' if the price doesn't keep rising. Ordinals are the beacon of hope.

The Bitcoin block reward is expected to be halved on April 15. Miners will then receive only 3.125 BTC per block - transaction fees not included.

Analysts expect a stress test for the mining industry. According to CoinShares, only five of the 14 companies analyzed would remain profitable if the BTC price doesn't rise.

In an analysis, Bitcoin ETF provider Grayscale warns that a price rise after the halving isn't guaranteed. This could put miners in a 'tense situation,' Grayscale explains.

Still, there’s hope thanks to the transaction fees. Thanks to Ordinals, these have climbed significantly over the past year. Some miners have already earned more from fees than the actual block reward of 6.25 BTC per block.

If this trend continues, with Ordinals contributing about 20 percent of miners' total income, Grayscale says there won’t be long-term problems for the industry.

At the time of writing, Bitcoin is trading at USD 47,910, up nearly 12% over the past seven days.

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