Bitcoin Mining May No Longer be Profitable: An Analysis of the Latest Data

Quick Summary:

New data has revealed that Bitcoin (BTC) mining might no longer be as lucrative as it used to be.

Bloomberg has reported that the profitability of Bitcoin mining is nearing a record low, not seen since the days following the collapse of FTX, posing significant challenges for those securing the network.

Reducing mining profitability also signals tough times ahead, particularly for smaller mining operations.

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Article Details

Author / Journalist: Samuel Edyme

Category: Crypto

Markets: HungaryMali

Topics: Bitcoin Bitcoin mining Bitcoin Mining Btc Crypto Market Bitcoin Halving BTCUSDT Bitcoin market Crypto

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-04-27 @ 02:30:31 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 486 words

Reading Time: 3 minutes read

Sentences: 30 lines

Sentence Length: 17 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 20799082

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About Bitcoinist

Main Topics: Crypto

Official Website: bitcoinist.com

Update Frequency: 14 posts per day

Year Established: 2014

Headquarters: Hungary

News Last Updated: 8 hours ago

Coverage Areas: Hungary

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #105

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