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Bitcoin Mining Companies Experience Record Low Profitability In September, Report

  • Bitcoin mining companies are facing low profitability as daily block reward gross profit declined by 6% in September.
  • The decline can be attributed to the Bitcoin Halving event that occurred in April, which reduced block rewards by 50%.
  • Increasing competition from major operators and rising energy costs are further impacting profitability for miners.
  • Leading mining companies' stock performances have also been affected, with share prices plummeting this year.

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