Following the widely anticipated halving event in mid-April, Bitcoin (BTC) miners grapple with profitability issues as hash rates shoot through the roof.

Onchain data reveals that barely one week after the halving, the computing power required to make one bitcoin per day soared past 1 exahash per second (EH/s). According to data from CryptoQuant, hash power has never reached these levels, putting a significant dent in miners’ profitability.

Bitcoin halving slashes block rewards by hal...