Bitcoin Miners Got Crushed by Crypto Winter. 2023 May Bring More Pain

As margins continue to compress, miners will have to look at how they can participate in “demand response programs,” meaning selling power back to the grid in times of high demand, as well as recapturing heat from mining rigs and using stranded energy, Bulovic said. “Miners who have a real grasp on the processes, policies, regulations and technical know-how of these adjacent industries will gain an edge over the other miners,” he said.