đąOdaily Planet Daily News! Coin Metrics' latest report reveals the current state of the Bitcoin mining market. Since the Bitcoin halving in April, mining profit margins have been under pressuređ° due to stagnant BTC prices and a sluggish fee market. Although short-term on-chain congestion has eased some revenue pressure, May and June will still be difficult months for miners.
đThe report also pointed out that Bitcoin mining companies are about to enter an era of consolidation, and well-funded miners will acquire assets from less efficient operators. Coin Metrics concluded: "Miners must look to the future to survive the impact of efficiency improvements and competitive pressures, and the long-term trend of BTC prices remains an unpredictable investment for highly capital-intensive business models."đ€
Although the current situation is difficult, we are optimistic about the future of Bitcoin! đȘ Let's look forward to the next development of Bitcoin together! đ