Bitcoin Miners Face Back-Breaking Challenges A Year After Halving Event

(MENAFN- Investor Brand Network) Bitcoin miners are facing unprecedented challenges a year after the April 2024 halving event . The reduction in block rewards, stagnant Bitcoin prices, and rising operational costs have made profitability difficult. While some miners are shutting down, others are seeking innovative ways to stay afloat, such as repurposing mining heat and adopting sustainable energy solutions.

Mining equipment manufacturers like Canaan Inc. (NASDAQ: CAN) could be getting concerned by the challenges Bitcoin mining companies are facing since stagnation in mining operations is likely to...

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