According to a report by Fidelity Digital Assets, miners must prepare for the quadrennial reward halving event, which cuts their bitcoin earned by 50%, in order to avoid bankruptcy. They need to maintain their existing hashrate, energy, and real estate while competing with the rest of the network. The months after halving are the most difficult, as bitcoin "plays catch-up to the immediate pay cut," and miners need capital reserves to offset the drop in revenue. However, the mining sector has historically recovered after previous halvings, demonstrating the resilience of the network and the industry.

The number of bitcoin held by crypto miners has decreased by 8,426 this year, with the decline starting in October. This may be due to the upcoming reward halving and the dry season in China, which could be causing miners to use their stored BTC to buy more efficient equipment to reduce running costs. The estimated number of BTC held in wallets tied to miners has dropped to the lowest since mid-2021, according to data from Glassnode. The halving, which is expected to reduce revenues and boost production costs, is seen as a stress test for miners and could lead to industry consolidation. China accounts for roughly 20% of the total computing power on the Bitcoin network, and miners in some Chinese regions may sell during the dry season to counteract the inactivity of mining hardware.

Data released by Crypto Quant founder and CEO Ki Young Ju shows that since the approval of Bitcoin ETF spot trading, 700,000 Bitcoins have been transferred to over-the-counter trading platforms used by miners in the past three weeks.

Tom Emmer, the majority whip of the House of Representatives and a Republican from Minnesota, is opposing a recent emergency request approved by the US Office of Management and Budget (OMB) to collect data from the country's bitcoin mining operations. Emmer wrote to the OMB stating: "When public safety is at stake, and the threat is imminent, OMB has the authority to grant emergency approval. I am writing to express my concern about the potential for OMB to abuse these powers in this case, as bitcoin miners do not pose a threat to public safety." Emmer requested that the OMB explain why it chose emergency authorization instead of going through the "normal permitting process."

CoinDesk reported that the outflow of funds from Bitcoin miners has reached its highest point in years, with tens of thousands of bitcoins worth more than $1 billion being sent to trading platforms.

Marathon Digital, a Bitcoin mining company, announced updates on its Bitcoin production and mining operations in December. The company produced 1,853 BTC in December, worth about $81.2 million. Marathon has produced a total of 12,852 BTC (worth $563.4 million) by 2023, more than double the mining output of 4,144 BTC in 2022. As of December 31, 2023, Marathon holds over 15,000 BTC.

According to Ali's monitoring, Bitcoin miners have sold about 4,000 Bitcoins worth more than $176 million in the past 10 days, according to TechFlow news.

Bitmain has signed an agreement with Bitcoin mining company BTC Digital to sell 2,000 T21 mining machines for a total of $5.32 million. The related equipment is expected to be delivered and put into operation in the first half of 2024. It is reported that BTC Digital plans to deploy these high-performance mining machines in the United States. After the deployment is completed, the company will have a total of 4,174 mining machines and a total computing power of 614PH/s.

Bitcoin mining company Cipher Mining Inc. released unaudited production and operation updates for December 2023 today. Cipher produced approximately 465 BTC in December, an increase of about 7.4% from the previous month. Cipher sold about 228 BTC in December, with a balance of approximately 796 BTC at the end of the month.

Bitfarms Ltd., a Bitcoin mining company, released updates for the month and year ending December 31, 2023. The production in December was 446 BTC, an increase of 13.8% from November. The total amount of BTC mined in 2023 was 4,928.