Can Bitcoin miners ever go bankrupt? How much money do they make? And what are the use cases?

How do Bitcoin miners contribute to the network, how mining pools work and how much electricity is spent to mine one Bitcoin block? What are the Bitcoin use cases?

Krit, of my Udemy students from my blockchain course, asked me some really interesting questions about Bitcoin mining. As you can see from the article below, I get quite excited when I talk about mining!