The Chia Halving Event

It's coming soon – the Chia halving event. This will occur roughly around March 8, 2024. The date is an estimate and the actual halving event occurs at a specific block height. The ASIC timelords helped speed this date up to arrive a little sooner.

What is a halving event? This is when block rewards to farmers get cut in half. No longer is there a 2 XCH block reward after the halving – instead it will be 1 XCH.

At the time of this writing, XCH is selling for $26.30 on the retail market. Many farmers report the cost to farm 1 XCH is approximately $20 in electrical costs. Of course electrical costs are highly subjective based upon location and the efficiencies of the farm setup.

After the halving event, farmers who are near their OpEx break-even point will face a serious problem if the value of 1 XCH doesn't nearly double. Many farmers could start farming at a loss (farming in the red) if XCH price does not substantially increase after the halving event.

We shall see how the market responds to the reduced supply coming soon in just about 4 months.