Yesterday, Bitcoin miners' income hit a new low this year

Odaily News On August 11, the daily revenue of the Bitcoin mining community fell to $2.54 million, a new low for the year, a figure that was last seen in October 2023. After the Bitcoin halving event on April 20, the mining reward will drop from 6.25 BTC to 3.125 BTC, and the revenue has dropped significantly. As expected, the daily revenue of Bitcoin mining fell below $3 million for the first time in May. In contrast, in the first four months of 2024, the mining community earned about $6 million per day. The main reasons for the decline in revenue include the ongoing bear market, the decline in Bitcoin market prices, the increase in network difficulty, and the resulting liquidations. (Cointelegraph)