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  • The Independent

    Bitcoin's next 'halving' is right around the corner. Here's what you need to know

    by Wyatte Grantham-Philips Apr 19, 2024 4 minutes
    Source: Copyright 2021 The Associated Press. All rights reserved

    Sometime in the next few days or even hours, the “miners” who chisel bitcoins out of complex mathematics are going to take a 50% pay cut — effectively slicing new production of the world’s largest cryptocurrency in half.

    That could have a lot of implications, from the price of the asset to the bitcoin miners themselves. And, as with everything in the volatile cryptoverse, the future is hard to predict.

    Here’s what you need to know.

    WHAT IS BITCOIN HALVING AND WHY DOES IT MATTER?

    Bitcoin “halving,” a preprogrammed event that occurs roughly every four years, impacts the production of bitcoin. Miners use farms of noisy, specialized computers to solve convoluted math puzzles; and when they complete one,

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