Fidelity refutes the assertion that halving weakens Bitcoin's security: the average daily income of miners has increased from $263,000 to $40.2 million

Comparing news, Fidelity Digital Assets recently released a research report to respond positively to concerns from the outside world that Bitcoin halving will weaken cybersecurity for a long time. Report author and Fidelity Research Analyst Daniel Gray pointed out that Bitcoin cybersecurity not only relies on block rewards; transaction fees, market incentives, and other economic forces also continue to motivate miners to maintain cybersecurity, making continued attacks prohibitively expensive.

At the data level, Gray pointed out that despite the continued reduction in block subsidies, the rise in Bitcoin prices has largely offset this impact. The average daily income of miners has grown from around $263,000 during Bitcoin's first halving cycle to over $40.2 million today. He wrote: Despite declining circulation, miner incentives, and the resulting cybersecurity, have continued to strengthen historically as the price of Bitcoin has risen. Since the fourth halving in April 2024, the subsidy for miners has been reduced from 6.25 to 3.125 bitcoins per block.

However, there is a clear gap between the report's optimistic assertions and the actual situation of open market mining companies. Many industry analysts have described the current mining environment as one of the toughest on record due to declining block rewards, rising operating costs, and increased competition. In response, many mining companies have begun to transform into the field of AI and high-performance computing, using existing power infrastructure to meet AI computing power requirements.

VanEck estimates that listed mining companies may need to raise up to $50 billion in additional capital to complete the full transformation to AI infrastructure, but AI data centers require far higher computer room standards, cooling, power redundancy, and networks than traditional Bitcoin mines, and the difficulty of transformation cannot be underestimated.