According to BlockBeats, on July 29, the profit squeeze after Bitcoin's "halving" put pressure on Bitcoin mining companies, and some large companies saw it as an opportunity to expand their business or launch a hostile takeover. It is expected that the Bitcoin mining industry will see consolidation in the next 18 months, and well-capitalized miners hope to devour their competitors. Colorado-based Riot Platforms announced on Tuesday that it had acquired Block Mining after a hostile takeover of Bitfarms last month.

Others are generating more revenue through innovations such as AI computing and chip manufacturing. Bitdeer, which uses only 36% of its electricity, is evaluating investing its power into artificial intelligence (AI) and high-performance computing (HPC) companies to generate revenue. Bitdeer is also moving into making chips specifically for bitcoin mining.