Prices continue to plummet, and the industry is worried, but there is one group that may be even more anxious.

The Bitcoin mining industry is undergoing significant changes, with miners competing to upgrade their mining machines to improve efficiency. UTXO consolidation brings temporary benefits to miners, but the overall health of the industry is poor. The stock prices of publicly listed mining companies struggle to surpass Bitcoin, although some companies perform exceptionally well. Well-funded miners are beginning to acquire the assets of less efficient operators, consolidating industry resources. The durability and industrialization of Bitcoin mining ASICs position them prominently within the proof-of-work ecosystem. The future may be characterized by consolidation, attracting attention from other industries. All miners must pay attention to the future, as the long-term trend of BTC prices remains unpredictable.

With the advantages of electricity resources and equipment, some cryptocurrency mining companies are making significant strides in the AI boom.

The collaboration between cryptocurrency mining companies and AI firms has become a new trend. After Core Scientific partnered with CoreWeave, investors showed recognition of the positive outlook for the mining industry. JPMorgan stated that this trend could also trigger more mergers and acquisitions.

The competition for computing power expansion, business transformation, and mergers among mining companies has already begun.

For those enterprising mining and ASIC companies willing to pave the way in the fields of energy and artificial intelligence, opportunities abound.

By entering the AI sector, mining companies can not only achieve business diversification but also enhance their ability to withstand the cyclicality of the cryptocurrency market.

Essentially, each halving is another dynamic balance of market supply and demand. In this rebalancing process, what trends in market funds are worth paying attention to? What specific pressures does the mining sector face? What is the current situation on the demand side for Bitcoin?

From most indicators, 2023 is a complete reversal of the market crash in 2022.