Without a doubt, the main event that all the eyes of the crypto world are on is the Bitcoin Halving expected for May. However, the Halvings that occurred in the last days in the Bitcoin SV and Bitcoin Cash chains, give a preview of what could happen in BTC. Well, despite the drop in rewards for both currencies, mining farms like SBI Crypto have increased their participation in BSV mining.
Two Halving in the crypto world
When talking about next month’s Bitcoin Halving, most users of the crypto world are optimistic. After all, why not be? Especially when you have the precedent of the last two Halving on the BTC Blockchain. Which boosted the price of the cryptocurrency, to the point where it reached around $ 20,000 in 2017.
However, in the case of Bitcoin Cash (BCH) and Bitcoin SV (BSV), the story has not been so sweet at all. Well, after both cryptocurrencies lived their respective Halvings in the last days, there was no radical increase in their price. On the contrary, these coins have seen a reduction in their prices, following the trend set by Bitcoin.
Of course, this has been a real blow to these cryptocurrencies. Which saw their miners’ reward for keeping their rig running halved. Without, as compensation, they could enjoy a rise in the price of that reward.
SBI Crypto increases stake in BSV mining
Despite this, there are still major players in the crypto world that still bet on these cryptocurrencies. Even in the face of falling profitability in mining them.
This is the case of SBI Crypto, the branch dedicated to cryptocurrencies of the financial giant SBI Holdings. Which has increased its participation in BSV mining since Halving on its Blockchain.
Looking at the stake percentage of the major Bitcoin SV mining farms, we can see how SBI Crypto went from a 4.4% stake last week to the 15.28% it currently has. At the same time as the percentage of the smallest mining farms, it was strongly reduced.
This increase in SBI Crypto’s BSV mining share is all the more interesting due to the closeness between SBI Holdings CEO Yoshitaka Kitao and Craig Wright, the Bitcoin SV promoter who claims to be Satoshi Nakamoto.
Which could be an essential factor in SBI’s commitment to cryptocurrency, even after Halving. And the reason why we chose this as our Today’s Data here at CryptoTrend.