Thirteen years after the first Bitcoin halving event reduced miner block rewards, the mining landscape has undergone significant transformation. Industrial miners are consolidating and exploring AI, while a resurgence of solo miners is emerging thanks to advancements in mining pools, hardware efficiency, and specialized strategies. However, this shift is accompanied by rising competition and declining mining output. 2024 saw increased investments and deployment of ultra-efficient mining hardware like the Antminer S21 series, leading to a more technologically advanced and geographically dispersed Bitcoin mining market. The rise in hashrate (beyond the symbolic one zetahash per second) highlights this trend, but it also fosters greater competition amongst miners, causing a decline in mining output with Bitcoin’s circulating supply shrinking by 37% in the past year.