A recent surge in miner transfers to exchanges, totaling over $5.6 billion, highlights the challenges faced by Bitcoin miners amid declining profitability. Data from CryptoQuant reveals a significant shift as miners offloaded Bitcoin holdings between October 9th and 15th, with Binance being the most active recipient. Experts attribute this trend to financial stress stemming from high mining difficulty coupled with reduced block rewards. The recent halving event further diminished profit margins for miners. As a result, revenue has plummeted to $45 per terahash, a significant drop from previous levels. Analysts predict that profitability might remain precarious in the short term until miners leverage alternative income streams such as AI hosting and high-performance computing.