Meme Coin Attack Results in a $2M Loss, Exploiter Still Holds $1M Worth of Pepe’s Best Friend

Bitcoin halvings, the programmed reductions in block rewards for miners, have a profound impact on the economic equilibrium of the Bitcoin mining industry. As block rewards decrease, miners face the challenge of sustaining profitability amid escalating operational costs. Empirical analysis indicates that halvings trigger an initial shock to miner revenue, leading to a contraction in the number of active miners. However, over the long term, halvings have historically been followed by periods of consolidation and recovery, as miners adjust to the new reward structure and optimize their operations to maintain viability. The dynamic interplay between halvings, miner economics, and the broader Bitcoin ecosystem presents a complex and evolving area of inquiry for researchers and industry stakeholders alike.