According to BlockBeats, on July 8, crypto data company Coin Metrics released a report on the current state of the Bitcoin mining market. The report pointed out that since the Bitcoin halving in April, mining profit margins have been under pressure, BTC prices have stagnated, and the fee market has been sluggish. Although short-term on-chain congestion has eased some revenue pressure, May and June are still very difficult months for miners.

The report states that Bitcoin mining companies are about to enter an era of consolidation, with well-funded miners acquiring assets from less efficient operators. Miners must look to the future, and the long-term trend of BTC prices remains an unpredictable investment for a highly capital-intensive business model.