Is the Bitcoin mining industry on the verge of collapsing?

The Bitcoin market has been drowning the red sea along with its counterparts. Amidst constantly crashing projects, the mining industry hasn’t been very profitable. While several filed for bankruptcy a few others have been recording nothing but losses. Canaan, a popular Bitcoin mining platform, revealed that its net income during the third quarter plummeted by 88 percent.
In a recent report, it was brought to light that the firm’s Q3 net income dropped to 6.11 million yuan or $8.6 million when co
By Shubhk

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