The consequences of the third Halving Bitcoin have already begun to more tangibly affect the condition of the miners. This is evidenced by the indicators of the hash tape, an indicator that demonstrates the dynamics of changes in mining complexity. According to the hash feed, the 4th capitulation of miners took place in this market cycle. Weak miners exit the game and sell Bitcoin stocks Halving Bitcoin is a unique solution for providing control not only over the emission of a crypto asset, but also regulates the level of competition among miners. Halving the reward by half is a kind of test for the stability of miners, so not everyone can win in this “battle”. Miners whose income cannot cover production costs are forced to capitulate: they sell their assets in order not to go bankrupt completely. Previously, each market cycle has repeatedly experienced the surrender of miners. As a rule, this process coincided with the division of Bitcoin in half and was accompanied by a massive sale of the crypto asset. The 4th surrender of miners is unprecedented since the costs of mining during the current market cycle became so unbearable that small miners were forced to abandon this business even before Bitcoin halving. The first signs of surrender were recorded in the period of the collapse of the price of Bitcoin and the so-called “Black Thursday”. At this time, miners were forced to massively sell their Bitcoin savings in order to cover their costs. What are the consequences of the surrender of miners? The surrender of small miners can be assessed as a kind of cleansing of the crypto industry and the formation of a class of effective miners that can maintain the Bitcoin network in a healthy state. Previous experience shows that during the period of departure of small miners from this business, favorable conditions for the purchase of Bitcoin are created. More productive miners sell fewer Bitcoin after accumulating it sufficiently. Accordingly, this leads to an increase in the price of the flagship cryptocurrency. As a rule, the surrender of miners lasts for a month. The year 2018 became an anti-record when the price of Bitcoin fell from $6,000 to $3,000. Flagship cryptocurrency was traded in this range during the period from November 2018 to January 2019. When the level of accumulated Bitcoins stabilized, the price of the crypto asset went up. Thus, based on previous experience, the surrender of miners is accompanied by the stabilization of the Bitcoin price and leads to its further bullish growth. Perhaps this period is one of the last chances to buy Bitcoin at a lower price.