Analysis: Bitcoin hashrate growth may slow this summer

With the halving resulting in a 50% reduction in mining rewards and hash rates continuing to hit record highs, miners are finding their profit margins squeezed in an already crowded industry. However, this continued momentum will slow in the coming months as North America enters summer and a heat wave hits. In the summer, the problem of mitigating heat becomes more serious because companies need more electricity to cool machines and/or stop operations due to high demand from energy consumers to run air conditioners. Many miners have to reduce operations in the summer, partly due to overheating of mining machines, but also because residential energy consumption reaches high enough levels to activate demand response clauses in miners' power purchase agreements. (Coindesk)