Cobo founder Shen Yu recently said in an interview that "bitcoin halving is a fatal blow to existing miners, and the income is directly reduced by half. If the currency price does not fluctuate sharply at this festival, it may lead to the current electricity bill. A mining machine with a ratio of about 50% can't mine, because its marginal benefit is less than the marginal cost, then it can only choose to shut down. If the price of the currency does not rise when the price is halved, the whole network will have a large drop in power. The mining machine will have a longer cycle."