Bitcoin mining no longer profitable as costs soar

Bitcoin mining has become increasingly unprofitable for many operators. The average cost to mine one Bitcoin has risen to $137,000, while its market price hovers around $95,000. This shift is due to rising electricity costs and increased mining difficulty, forcing smaller miners out and prompting larger operations to diversify their business models. The industry is consolidating, with only the most efficient and well-capitalized companies likely to survive in this new landscape.