Odaily Planet Daily News According to Coin Metrics and analyst Matías Andrade's latest "Network Status" report, the 2024 Bitcoin halving event has triggered significant changes in the mining industry. The report shows that after the halving event, the income from mining power measured in BTC per TH/s has sharply declined. However, Bitcoin's price rose above $105,000, alleviating some of the impacts. Even so, profitability still lags behind the peak period before the halving, indicating that miners trying to maintain profit margins will face tough times. Coin Metrics' analysis shows that publicly listed Bitcoin mining companies have performed better than Bitcoin's price growth, which has experienced significant fluctuations. Since July, Bitcoin has risen by 54.3%, and the stock prices of leading mining companies have also significantly increased. Hut8, Bitdeer, and Core Scientific lead the pack, rising by 68%, 78.5%, and 60.2%, respectively. Researcher Matías Andrade emphasized that maintaining a strong financial position and cutting-edge mining equipment is key to distinguishing excellent companies. Companies holding Bitcoin during the bear market have also gained financial support due to the rebound in BTC prices. Furthermore, mining hardware technology has been rapidly advancing. Andrade emphasized that miners need to keep their equipment updated to remain competitive. Looking ahead, the report highlights the importance of miners adapting to the reduction in Bitcoin supply, fine-tuning operations, and utilizing cheap energy. (Bitcoin.com)

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