August was the lowest revenue month for Bitcoin miners so far in 2024 and the worst revenue month since September last year.
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Bitcoin Miners Face Leanest Month of 2024: August Earnings Hit Year’s Low
Bitcoin miners faced their most challenging revenue month of the year in August, marking the lowest earnings since September 2023. Onchain fees collected in August
Read moreBitcoin hashprice slump echoes March 2020 BTC price launch zone
Bitcoin hashprice, when compared to BTC price action, is reminiscent of conditions that preceded the 2020 breakout to new all-time highs.
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Bitcoin’s Latest Difficulty Rise Challenges Miners Already Facing Revenue Slump
On Aug. 28, Bitcoin’s mining difficulty bumped up by 2.99% at block height 858,816, pushing the metric from 86.87 trillion to a hefty 89.47 trillion.
Read moreBitcoin pinned below $60K — Is BTC consolidating or preparing for more downside?
Institutional spot Bitcoin ETF outflows and lowered Bitcoin miner profitability could be driving the current price drop
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Hashrate Climbs 25 EH/s in 8 Days as Bitcoin Miners Adjust to Network Difficulty Reduction
While Bitcoin’s hashprice has been languishing below $44 per petahash per second (PH/s) each day, the network’s hashrate is beginning to climb once more. Between
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