July 4 (Cointime) - As Bitcoin miners struggle to maintain their profit margins, they continue to face a range of challenges. For example, last summer a Texas heat wave led to a drop in production and a number of crypto industry meltdowns, prompting many public crypto-mining companies to sell large amounts of their coin reserves.

More recently, rising power costs have been a concern for many miners, particularly in Texas which has become a crypto-mining hub. Additionally, the difficulty of mining Bitcoin continues to increase over time, meaning that miners require more computing power to maintain their mining activities, putting further pressure on their profitability.