ChainCatcher news, according to CoinDesk, as the Bitcoin halving has reduced mining rewards by 50%, while the hash rate has continued to hit record highs, miners have found that their profit margins have been squeezed in this already crowded industry.
However, as North America enters summer, with the arrival of heat waves, this continued growth momentum will slow down in the coming months. In the summer, the problem of alleviating high temperatures becomes more serious because companies need more electricity to cool machines and/or stop operations due to high demand from energy consumers to turn on air conditioners.
Many miners have to reduce operations in the summer, partly because mining machines overheat, but also because residential energy consumption reaches a high enough level to activate the demand response clause in the miners' power purchase agreement.
