Impact of Bitcoin’s (BTC) Market Fluctuations Begins to Affect Miners
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- Bitcoin miners’ revenue per TH/s has dropped to all-time lows.
- According to The Block data, the 7-day moving average of the revenue Bitcoin miners earn per TH/s has dropped to $0.048.
- The total hash rate on the network also fell slightly to 600 EH/s after the halving, but this rate is still quite high compared to previous years.
Bitcoin miners are experiencing all-time lows in their earnings per TH/s, following a significant drop in the total hash rate on the network post-halving.
Halving Results in Block Reward Reduction
Following the halving on April 20, block rewards were cut from 6.25 BTC to 3.125 BTC. Miners did not feel the impact of this halving in the first few days. The primary reason for this was the interest shown in the Runes protocol. On April 23, approximately 800,000 transactions were made with Runes, and the average transaction fee on the network rose to $40. Miners’ income increased as more than $80 million in tran... Read the full article for FREE at COINOTAG!
