Global Bitcoin hash rate experienced a dramatic 40% drop followed by a 50% recovery in 48 hours, with evidence pointing to North American miners curtailing operations due to summer heat rather than Middle East tensions. This curtailment coincides with the start of Texas's 4CP program where miners power down during peak demand periods in exchange for power credits and reduced transmission costs.

• Bitcoin trading around $108,000 with miners showing strong performance
• CleanSpark and IREN racing to reach 50 exahash production targets
• North American miners curtailing operations causing global hash rate to drop 
• Reduction attributed to summer heat waves in Texas and Northeast rather than geopolitical tension
• Texas's 4CP program begins in June, incentivizing miners to reduce power during peak periods
• Companies like Riot Platforms earn significant power credits ($70M in 2023) through curtailment
• Marathon partnering with TAE Power for faster grid response capabilities
• 8.5% Bitcoin difficulty adjustment expected this weekend, improving mining economics
• Miner Madness 4.0 competition registration now open!

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