Odaily Planet Daily News According to data tracked by Coinwarz, on June 5, the Bitcoin network computing power dropped from 83.6 TH/s to 79.50 TH/s, reaching the level of March, a month before the halving event in April. Julio Moreno, head of research at CryptoQuant, said: "The Bitcoin network computing power was reduced by 7.8% at the time, which is comparable to the situation after the FTX crash in December 2022. Miners' profitability has been hit, with daily revenue falling from $78 million before the halving to $26 million now." Moreno added: "Since the beginning of May, as the mining difficulty has been reduced, some miners have shut down their equipment to cope with the decline in profitability." (CoinDesk)