According to Bloomberg, JPMorgan and Deutsche Bank said that the "halving" phenomenon, which is hailed as one of the keys to supporting the value of Bitcoin, has been basically expected by the market. This will have a major impact on Bitcoin mining. As unprofitable miners exit the Bitcoin network, they expect the industry to consolidate, with publicly listed companies most likely to gain market share. "Publicly listed Bitcoin miners are in a favorable position due to more financing channels, especially equity financing, which helps them expand their business scale and invest in more efficient equipment," JPMorgan analysts wrote. Deutsche Bank analysts also do not expect Bitcoin prices to rise sharply after the halving. They wrote: "Since the Bitcoin algorithm has already anticipated the halving, this event has been factored into the market." Despite not expecting sharp price fluctuations, Deutsche Bank still expects Bitcoin prices to remain high in anticipation of spot Ethereum ETF approval, central bank rate cuts and regulatory changes. Currently, the United States accounts for 40% of Bitcoin mining. However, both JPMorgan and Deutsche Bank believe that some Bitcoin mining companies may seek to diversify to "low energy cost regions" such as Latin America or Africa to find their inefficient mining supply and obtain residual value from equipment that would otherwise be idle.