TechFlow news, according to CoinDesk, the Bitcoin halving has reduced mining rewards by 50%, while hash rate continues to hit record highs. Miners are finding their profit margins squeezed in an already crowded industry.
However, as North America enters summer and heatwaves arrive, this sustained growth trend is expected to slow over the coming months. Managing high temperatures becomes more challenging during summer, as companies require more power to cool equipment and/or suspend operations due to heightened electricity demand from consumers using air conditioning.
Many miners will have to scale back operations during summer, partly due to overheating mining equipment and partly because residential power consumption reaches sufficiently high levels to trigger demand response clauses in miners' electricity purchase agreements.
