Despite Bitcoin being up over 100% year-to-date (YTD), a recent report shows that this hasn’t necessarily translated to profits for the network’s miners. Instead, these miners seem to be experiencing a downturn in their revenue even as the Bitcoin Halving looms. Related Reading: Bitcoin A Tad Closer To $40,000 – Is $41K The Next Stop In A Few Days? Bitcoin Miners’ Revenue Down By Over 30% According to a report by BanklessTimes, the revenue of these miners is down by over 30% in the past six months. Interestingly, these miners had their most profitable month when Bitcoin’s price was just picking up at the beginning of the year. Their revenue soared to as high as $918.8 million in January. In the months after that, there was a significant decrease in the revenue earned. Things began to pick up again in October, as that month represented their second-highest monthly earnings of 2023. They are reported to have earned $885 million in that period. However, the downward trend resurfaced in November as these miners saw a drop in their revenue once again. The total ea ..
Support the originator by clicking the read the rest link below.
