Bitcoin miners faced significant challenges in Q2 2024, including a 7% hashrate drop post-halving and stagnant BTC prices. Despite temporary increases in transaction fee revenue and efficiency improvements, the industry saw a 13% price decline over the past 30 days. Reports from @coinmetrics and CryptoQuant indicate that miners are capitulating, shutting down hardware, and selling BTC. Revenue per hash is near all-time lows, and miner outflows have surged. Falling mining rewards and transaction fees are cutting into profits, prompting industry consolidation, according to Kaiko Research. The challenges have intensified since April's halving.