It's been more than a decade since Bitcoin's quadrennial halving event thrilled early Bitcoin holders, while instilling fear in inefficient cryptocurrency miners.
And while some may even secretly hope for an end to profitability cuts (which have even bankrupted companies in the past ), most miners agree - this is what makes Bitcoin unique and gets it nowhere.
"As miners, we accept halving and value it - but of course we are also a bit afraid of it," - said Kristian Csepcsar, head of propaganda at Bitcoin mining infrastructure company Braiins.
Concerns have been raised that a Bitcoin halving event, scheduled for April 20, could bring some Bitcoin miners down - especially if the price of Bitcoin does not exceed the cost of mining.
"Miners at heart are true Bitcoiners," Csepcsar said. "So even though halving puts tremendous pressure on the entire mining industry, we all understand why halving is an integral part of the Bitcoin project."
"We prepared for halving by comprehensively restructuring the company and focusing on being a low-cost operator," Genoot said.
He added that Hut 8 mines "only when it's profitable" using its own software and maintains a strong balance sheet with more than 9100 BTC, allowing it to remain stable while investing in growth.
