Can bitcoin mining still be profitable?

As a keen observer of the cryptocurrency landscape, I'm often curious about the profitability of bitcoin mining. With the ever-increasing difficulty of mining and the competition from large mining pools, does bitcoin mining still hold the potential for a profitable venture? I'm aware of the significant upfront costs involved in purchasing mining hardware and the continuous power consumption, but what are the current trends indicating? Are there still opportunities for individuals or small mining operations to turn a profit, or is bitcoin mining now primarily dominated by large-scale operations? I'd like to understand the current state of bitcoin mining profitability and whether it's still a viable option for those seeking to enter this space.