Bitcoin’s latest ‘halving’ has arrived. Here’s what you need to know

NEW YORK — The “miners” who chisel bitcoins out of complex mathematics are taking a 50% pay cut — effectively reducing new production of the world’s largest cryptocurrency, again.

Bitcoin’s latest “halving” appeared to occur Friday night. Soon after the highly anticipated event, the price of bitcoin held steady at about $63,907.

Grantham-Philips is a business reporter who covers trending news for The Associated Press. She is based in New York.

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