No, a halving means miners get half of the Bitcoin rewards given the same amount of mining time and effort. The network emits 6.25 bitcoins every 10 minutes and

No, a halving means miners get half of the Bitcoin rewards given the same amount of mining time and effort. The network emits 6.25 bitcoins every 10 minutes and that revenue will decrease to 3.25 bitcoin every 10 minutes. The purpose of this is (essentially) to reduce inflation. This will decrease the incentives for mining drastically making it sharply unprofitable for many older mining rigs. The cost of electricity will be more than the value of the predicted Bitcoin rewards many mining rigs could ever generate. Exceptions are low-cost power near remote hydroelectric/geothermal power plants and free electricity that people risk their lives in 3rd world counties to steal (since high-voltage kills). Some households produce extra solar electricity (perhaps incase new tech such as an Apple Vision Pro 2 comes out). Due to backwards lobbying efforts in most states by the local electric monopoly, solar/wind electricity can’t be sold back to the grid anymore so some solar households plug in a Bitcoin miner to burn off the otherwise worthless additional electricity. Some enterprising people use Bitcoin miners to heat pools such as one guy with a spa business. The electricity would’ve been wasted on heating them anyways. Despite these uncommon exceptions, the bulk of mining is elastically centered around the cost of electricity. Think Riot Mining or Marathon Digital Holdings as massive miner companies, whose hashing power is absolutely massive. They will certainly be affected. The price of Bitcoin would have to double from today’s price just for miners to earn the same amount as today. Nowadays, Bitcoin has to contend with Ethereum which uses over 99% less electricity.