Bitcoin miner revenues have been in decline since the bear trend began and this has led a good number of miners to sell their BTC holdings in order to keep their operations afloat. However, the expectation that the bear market would soon resolve and miners would once again be in the green has since gone out the window. With miner revenues continuing to plummet, miners may have to resume selling off their holdings to keep up with the market.
Miner Revenues Fall
For the past week, there has been no change in the downtrend in miner revenues. On-chain metrics show that it was down 0.59% from the prior seven days bringing the total daily miner revenues to $18.62 million. Mostly, it has remained flat during this time and other metrics have dived further into the red during this time.
Related Reading | Institutional Investors Remain Bearish As Short Bitcoin Sees Record Inflows
An example is the fees per day culled by miners. It was down 10.55% i ..
Support the originator by clicking the read the rest link below.
