Why is crypto mining no longer profitable?
Crypto mining used to be profitable, but now it seems like it's not worth it anymore. I'm wondering why this has changed and what factors have contributed to the decrease in profitability of crypto mining.
What happens when Bitcoin mining is no longer profitable?
I'm wondering about the scenario where Bitcoin mining becomes unprofitable. What would be the consequences and implications for the Bitcoin network and its miners?
Why is Bitcoin mining no longer profitable?
Bitcoin mining is no longer profitable because the difficulty level has increased significantly over time, requiring more computational power and energy consumption. Additionally, the reward for mining a block has halved several times, reducing the incentives for miners.