Bitcoin Hashrate May Finally Slow as Miners Face Scorching Summer HeatwavesHashrate for the Bitcoin network typically flattens or declines during North American summer time, industry experts say.The unrelenting growth of Bitcoin's (BTC) hashrate, or computing power of the network, may finally slow down, giving miners some reprieve as extreme summer heatwaves force curtailments of some operations.Miners have seen their profit margins squeezed in an already overcrowded sector after the halving cut their mining rewards by 50% while hashrate kept hitting new all-time highs. Among the main reasons for growing hashrate: previously purchased mining rigs are coming online, and the miners have been scrambling to upgrade their fleet with more efficient rigs to stay profitable after the halving. On May 25, for example, hashrate climbed to a record high of 658 exahash per second (EH/s), according to Luxor's Hashrate Index data.
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