From Investing.com: 2024-05-15 10:50:49

The recent halving reduced miner revenues, forcing less efficient rigs offline. Transaction fees spiked post-halving but stabilized. Global hash rates dropped 6% in May, expected to decline further if Bitcoin prices fall. Some U.S. miners are using equity for growth. Bitcoin ETFs saw increased shares, supporting BTC price.

Hash rates expected to continue downward, potentially hitting bottom in August due to high power prices in Texas. Power prices forecasted to stabilize around $55/MWh by 2025. Small-scale acquisitions likely in the mining industry. Market split between well-funded companies and those selling due to reduced revenues post-halving.

Read more at Investing.com: Some Bitcoin mining rigs to shut down amid price weakness, says BTIG By Investing.com