5M
...
![](https://cryptocrunchapp.com/wp-content/uploads/2024/04/hut-8-asher-genoot-thumbnail-1.jpg)
The Bitcoin mining industry is gearing up for a significant transformation ahead of the upcoming Bitcoin halving event. With insights from industry leaders like Hut 8 CEO Asher Genoot, it’s evident that miners are strategically adjusting their operations to navigate potential challenges and seize opportunities in this evolving landscape.
Genoot stated:
“A significant factor contributing to the distress in the mining sector was the leverage embraced in 2021, which became unsustainable in 2022 as Bitcoin’s value declined and energy prices escalated […] A lot of companies grew with that and that debt couldn’t be serviced in 2022 when Bitcoin prices went down and energy prices went…
Read more on bitcoinnews