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**Bitcoin Miners Hit 7-Month Low as BTC Dumps $7K**
Ouch. Bitcoin miners are having a rough week.
After BTC tanked from $107K to $100K in a single day (that's a $7K hit), mining profitability just cratered to levels we haven't seen since April. We're talking hashprice collapsing, reward margins getting squeezed hard.
The math is brutal: electricity costs are eating miners alive right now. Operations in places like Ethiopia? Getting absolutely wrecked by energy price swings. Some outfits are already considering shutting down or bouncing to regions with cheaper power.
When price action gets this messy, the smaller miners start bleeding. This is when the industry consolidates—weak hands out, efficient operations survive.
Bottom line: If Bitcoin stays under $100K, expect to see more mining capitulation in Q4.