Odaily News According to Blockchain.com, the Bitcoin network hashrate fell to a more than two-month low of 575 EH/s on May 10, before recovering slightly to the current 586 EH/s. James Butterfill, head of research at CoinShares, wrote on the X platform that the decline in Bitcoin hashrate can be attributed to "miners starting to shut down unprofitable mining machines." CoinShares predicted the temporary drop in hashrate in an April 19 report, which predicted that hashrate would soar next year. The temporary reduction is due to the increase in Bitcoin mining costs due to the halving, as well as rising electricity costs. The report states that key mitigation strategies include optimizing energy costs, improving mining efficiency, and ensuring favorable mining machine procurement terms. According to Nazar Khan, co-founder and chief operating officer of TeraWulf, after the Bitcoin halving in 2024, only small mining operations with less energy-efficient equipment will be threatened. (Cointelegraph)