Bitcoin Miners Revenue Hits Two-Year Low
Total Bitcoin mining revenue in US dollars fell to $11.67 million, according to Blockchain.com.
In addition to the foregoing, the difficulty of mining a Bitcoin block has risen to an all-time high of about 37 trillion, which leads to Bitcoin miners using more energy and computer resources in order to remain competitive.
However, the Bitcoin network’s hash rate has been steadily declining over the last three months. The hash rate is now 200.2 exahash per second (EH/s), down 36.8% from its all-time high of 316,7 EH/s on October 31, 2022.
At the time of writing, BTC is trading at $16,540.
The decrease in revenue leads to a difficult situation for crypto mining companies today, some names can be mentioned, such as Core Scientific, Argo Blockchain, and Compute North.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
Coincu News
MicroStrategy Bitcoin holdings are now more than any country, with 214,400 BTC worth $13.6 billion.
The highly anticipated Bitcoin Seoul 2024 conference is gearing up to be a revolutionary event…
As an experimental festival, Non-Fungible Conference aims to revolutionize event frameworks, offering attendees a glimpse…
Blockchain Week Rome 2024 is set to unite the Italian and international crypto communities in…
The eagerly anticipated BlockSplit conference, a premier gathering for blockchain enthusiasts, is set to take…
Despite market downturns, over 95% of Bitcoin ETF investors have held onto their assets, demonstrating…
This website uses cookies.
