Bitcoin hashrate growth may slow this summer due to power issues

BlockBeats news, June 19, according to CoinDesk, due to the Bitcoin halving, the mining reward was reduced by 50%, while the hash rate continued to hit record highs, and miners found that their profit margins were squeezed in this already crowded industry.

However, as North America enters summer, accompanied by a heat wave, 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 of overheating of mining machines, and also because residential energy consumption reaches a high enough level to activate the demand response clause in the miners' power purchase agreement.