BTC miners are having a rough stretch lately. November marked the fourth month in a row where mining profitability took a hit – dropping 14% compared to October's numbers. When you stack it against last year? We're looking at a 20% decline year-over-year.

This data comes from analysts at a major Wall Street bank, and the trend is pretty clear: mining operations are feeling the squeeze. Whether it's rising operational costs, network difficulty adjustments, or Bitcoin's price action, the math isn't working in miners' favor right now.

Four consecutive months of decline is more than just a blip. It's shaping into a pattern that smaller operations might struggle to weather.