Bitcoin L2s help crypto miners in Asia supplement income with staking
Bitcoin L2s remain crucial to the Asian crypto ecosystem, offering miners new revenue streams after the most recent halving.
One crypto narrative that has garnered significant traction across the Asian technological landscape is the rise of Bitcoin layer-2 (L2) solutions.
Chinese miners are still an important part of the Bitcoin (BTC) mining ecosystem — reportedly accounting for over 50% of the network’s hashrate — the rise of these solutions seems to be bolstered by miners seeking to create alternative revenue streams for themselves, especially in the wake of the recent Bitcoin halving.
The Bitcoin halving, a programmed event that reduces BTC mining rewards by half, has traditionally been challenging for miners. The most recent halving, which concluded on April 19, reduced the digital asset’s reward ratio from 6.25 BTC to 3.125 BTC, making it tougher for miners to stay profitable.
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Author: Shiraz Jagati
