PANews reported on April 12th, citing Cointelegraph, that with only about two years left until the fifth Bitcoin halving in 2028, mining companies face a more challenging operating environment than in 2024. At that time, the block reward will drop to 1.5625 BTC, and coupled with record-high hashrates, rising energy prices, and tightening capital, profit margins will shrink significantly.

Geopolitical conflicts exacerbate energy security concerns, and increasingly standardized regulations in Europe and the United States are forcing the industry to accelerate its transformation. Mining companies such as MARA and Riot are reducing their Bitcoin holdings to lower leverage, and the industry is moving away from a model that relies solely on block rewards and towards a diversified revenue structure including energy services and AI computing power. Mining companies with stable energy and comprehensive operational capabilities will have a greater advantage.