Bitcoin miners are struggling as profits hit a record low due to recent halving
Bitcoin mining companies are facing significant challenges as profitability reaches an all-time low, according to a report by JPMorgan Chase. In September, miners experienced a 6% drop in daily block reward gross profit, marking three months of declining revenue, despite a slight rise in Bitcoin prices. The primary cause of this downturn is the recent Bitcoin Halving, which occurred in April and reduced miners’ rewards by 50%, potentially leading to