Mining profitability is under pressure as network competition reaches historic levels and margins shrink.
According to a recent report from The Miner Mag, the bitcoin mining sector is going through a phase of growing economic difficulty, marked by increasingly intense competition on the network and unfavorable market conditions.
Miners are facing a complex situation: while the network hashrate – the indicator that measures the total computing power dedicated to securing the network – reached an all-time high of 1.16 ZH/s in October, the price of BTC fell toward $81,000 in November.
...read more at atlas21.com
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This is why the future is heatpunk
If the heat is useful, then the sats are a bonus
Yeah I feel for the miners! Tough business.
But if you are long term bullish it is worth the investment. In my opinion
they have to pivot to ai/hpc as an additional revenue stream
clean spark
terawulf
iren
mara
riot
hut or hive (I can't remember)