Luxor Mining: Bitcoin mining companies are buying more mining machines to expand their computing power and prepare for the next halving of rewards.

BlockBeats reported on July 26th that Colin Harper, the content director of mining pool operator Luxor Mining, stated in an interview with CoinDesk that the profitability of bitcoin mining machines has been decreasing due to fluctuations in bitcoin prices, rising energy costs, increases in computing power and network difficulty. The price of mining machines has also decreased, falling to near historical lows in the past year. However, miners are using this opportunity to expand their scale and maintain their leading position. Colin Harper also added that mining companies are preparing for the fourth bitcoin reward halving, which is expected to take place in April 2024. Once the halving occurs, miners will face almost double the mining costs and will need more efficient machines to reduce costs. Currently, the cost of mining one bitcoin and making a profit by mining a block is at least $10,000 to $15,000. Some analysts suggest that after the halving, the cost of mining one bitcoin may increase to $40,000, making the most efficient mining machines a necessity for mining companies.