Before Bitcoin halving, there is a surge in mining machine investment, and Galaxy Digital predicts that some hash rates may go offline

As the Bitcoin halving event approaches, new research from Galaxy Digital suggests that 20% of Bitcoin's current hash rate could go offline, according to CryptoPotato. This reduction is expected to affect eight specific ASIC mining models, leading to a drop in the network's overall hash rate. Galaxy Digital's mining analysts revealed that by the end of 2023, more than 70% of Bitcoin's hash rate was generated by eight ASIC mining models. According to the report, these models are susceptible to fluctuations in Bitcoin prices and transaction fees. Therefore, after the halving, the hash rate generated by these ASIC models could be 15% to 20% offline. Despite the upcoming challenges, the anticipation of the halving has already stimulated significant investment in mining infrastructure. Companies such as Riot Platforms and Bitfarms have expanded their mining capacity by purchasing large quantities of mining equipment, betting on a rebound in the cryptocurrency market.