Bitcoin

<p>Bitcoin mining companies are preparing to report their production results for May, the first full month following Bitcoin’s fourth halving event. Although the hashrate dipped to around 580 EH/s shortly after the halving, it bounced back in May, mostly staying above 600 EH/s. Despite this recovery, May’s average hashrate was still lower than April’s, which partially offset the halving's impact on daily production, according to <a href="https://theminermag.com/news/2024-05-30/miner-weekly-bitcoin-halving-profit-squeeze-may/">TheMinerMag</a>.</p> 
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<p>Data from TheMinerMag shows Bitcoin’s daily production benchmark dropped to 0.792 BTC/EH/s in May, a 45% decline compared to April. This significant drop highlights the halving’s impact on miner profitability. TheMinerMag estimated that major public mining companies saw an average production decline of 43% in May.</p>

Bitcoin Miners Face Profit Squeeze Post-Halving Despite Hashrate Recovery

Ultramining_Eng

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