BlockOps Mining · Updated October 9, 2026
The halving date is a projection based on average block time, not a fixed calendar date. Hardware specs, power rates and tax rules below are as published. Nothing here is tax advice; talk to your accountant before acting on the depreciation section.
Key Takeaways
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The next halving is projected for around April 17, 2028, at block 1,050,000. The block reward drops from 3.125 BTC to 1.5625 BTC. Per-block revenue is cut in half on that day for every miner on the network.
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Hardware efficiency is the only hedge you fully control. S21-class machines in the 13.5 to 17.5 J/TH band are the realistic floor for 2028. Anything above 25 J/TH needs a much higher bitcoin price to clear its own power bill.
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Power rate is what compounds. Operators preparing for 2028 are locking sub-$0.10/kWh contracts now, before AI data center demand reprices them.
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The preparation window is wider than the halving itself. Hardware ordered close to the date arrives at a premium, and hosting capacity tightens as everyone else reaches the same conclusion.
Want your power rate locked before 2028?
See current inventory and rates, or walk through contract terms with the team.
Rates as low as $0.07/kWh pass-through, curtailment capped at 120 hrs/yr, you keep title.
What actually changes on halving day?
Short answer
The block subsidy drops from 3.125 BTC to 1.5625 BTC. Your electricity bill, your hosting contract and your hardware stay exactly the same. That is the whole problem in one sentence.
The arithmetic is easy to run for yourself. At $60,000 per coin, the halved subsidy is about $93,750 less gross revenue per block across the entire network. At $100,000 per coin it is roughly $156,250 per block. The percentage is identical either way: half.
The network does self-correct. Inefficient operators shut off, difficulty adjusts downward, and the miners still running earn a larger share of each block. But that correction happens at the expense of whoever could not absorb the gap in the meantime, and it does not arrive on a schedule you can plan around. [5]
The 2024 halving was survivable partly because the market had two years of rising price to adjust into. The 2028 halving arrives with miners already on tighter margins, network hashrate near all-time highs, and AI infrastructure bidding for the same industrial power capacity. This cycle needs more lead time, not less. [4]
What hardware survives the 2028 halving?
Short answer
Machines in the 13.5 to 17.5 J/TH band. An S21 XP runs 270 TH/s at 3,645W, which is 13.5 J/TH. An older S19-class machine at 28 J/TH is burning roughly twice the power for the same work.
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Run the two against each other at $0.08/kWh and the gap is the whole story. The efficient machine keeps a positive gross margin through a halved subsidy at bitcoin prices in the low six figures. The older machine needs the price to do the work that the hardware is not doing. [6]
Timing. Next-generation ASICs in the 10 to 12 J/TH range are expected to ship in volume in 2027. Hardware ordered close to the halving arrives at a premium as demand spikes. Operators who bought into weaker demand got better pricing and better hosting placement.
The tax side has changed. 100% first-year bonus depreciation is now permanent and no longer phases down. The old deadline requiring property in service before January 1, 2027 was removed. Qualifying property must be both acquired and placed in service after January 19, 2025. So this is no longer a race against a cliff; it is a question of which tax year you want the deduction to land in.
A $200,000 hardware purchase still generates a $200,000 first-year deduction if it qualifies. We covered the mechanics, including what counts as placed in service, in our bonus depreciation breakdown. [8] [9]
Which contract terms should you lock in now?
Three terms deserve attention well before April 2028, because all three get more expensive to negotiate as the date approaches.
Power rate. Lock the lowest rate you can get on a term running through at least 2029. Industrial electricity has risen roughly 2 to 3% a year over the past decade, and AI data center demand is pushing in the same direction. A rate signed in 2026 is very likely cheaper than the same rate negotiated in early 2028.
Curtailment cap. After the halving, every offline hour costs more against a thinner margin. A cap of 120 hours a year or less protects your effective uptime. An uncapped contract is quietly more expensive post-halving than it looks today.
Termination rights. If price does not cooperate by 2028, you need a clean exit. A 30 to 60-day written termination window gives you that. An 18-month lock-in with no exit clause is a risk that compounds exactly when you can least afford it.
If you are auditing an existing agreement against these, our hosting contract red flags piece covers the clauses that cause the most trouble, and how curtailment hours show up on an invoice explains why the cap matters more than the headline rate. [7]
BlockOps operates on transparent pass-through power pricing, a 120-hour annual curtailment cap, and 60-day written termination notice. Clients retain title to their equipment throughout.
Frequently Asked Questions
When exactly is the 2028 bitcoin halving?
It is projected for around April 17, 2028, at block height 1,050,000. The exact day shifts with average block time, so treat it as a window rather than a date. The block reward drops from 3.125 BTC to 1.5625 BTC.
What bitcoin price is needed to stay profitable after the 2028 halving?
Two different questions get mixed up here. Simply staying cash-positive at $0.08/kWh on S21-class hardware takes a materially lower price than restoring the margin you had before the halving. Matching pre-halving margin takes roughly $120,000 to $140,000 per coin once expected increases in industrial electricity rates through 2028 are included. Staying above water takes considerably less.
Should I upgrade my hardware before the 2028 halving?
If you are running above 20 J/TH, yes. The 13.5 to 17.5 J/TH band is the realistic efficiency floor for the post-2028 environment, and next-generation hardware at 10 to 12 J/TH is expected in volume during 2027. Below 20 J/TH the decision depends more on your power rate than on the halving.
Does bonus depreciation still apply to mining hardware?
100% first-year bonus depreciation is permanent for qualifying property both acquired and placed in service after January 19, 2025, and it no longer phases down. The previous requirement to place property in service before January 1, 2027 was removed. The IRS has issued interim guidance and proposed regulations are expected, so confirm the current position with your accountant.
What happens to mining difficulty after the halving?
Difficulty adjusts automatically every 2,016 blocks based on total network hashrate. If the price at halving time is not enough to keep all current miners profitable, the least efficient operations shut off, difficulty falls, and the operators still running earn a larger share of each block.
Is it too early to be planning for 2028?
The decisions with the longest lead times are hardware procurement and power contracts, and both get worse the closer you get. Hosting capacity tightens, hardware prices firm up, and power agreements reprice. Planning now costs nothing; planning in 2027 costs money.
Lock your rate before the halving reprices it.
Open the marketplace for current inventory and rates, or get the team on a call.
Rates as low as $0.07/kWh pass-through, curtailment capped at 120 hrs/yr, you keep title.
