16 Bitcoin mining companies have over $4.7 billion in losses in a year, according to public reports.

16 Bitcoin mining companies have over $4.7 billion in losses in a year, according to public reports.

Read the full/original report on Finbold:
https://finbold.com/16-bitcoin-mining-companies-have-4-47-billion-in-losses-in-a-year/

Amid a challenging 12 months for Bitcoin (BTC), the Bitcoin mining industry is also struggling to keep its operations going with negative reported earnings.

https://preview.redd.it/4z9368oo8vkb1.png?2506&format=png&auto=webp&s=3ff33d464d2348fe4eb5a44e277cd2b6ad1722de

MacroMicro registered an average cost of $45,877 per mined BTC, against a spot price of $26,089 on August 27 — accounting for a loss of $19,588 per 1 BTC mined.

https://preview.redd.it/0cdfpg1s8vkb1.png?1790&format=png&auto=webp&s=7d8478c2207fa111739d6306e0721ca45c4daaed

The block subsidy halving is coming in 2024, impacting even more miners' profitability, as well as the Bitcoin network decentralization, security, and value perception.