Bitcoin mining revenues plummet

Bitcoin miners face heavy losses after halving. Mining revenues have fallen to annual lows.

The mining industry is struggling with the effects of the recent halving.

From data from Blockchain.com shows that income from Bitcoin mining have fallen to an annual low.

Currently, it is about $26 million per day. In comparison, during the halving and launch of the Rune protocol revenues peaked at more than $100 million.

One reason for the drop: the recent halving. The reward per block has halved to 3.125 Bitcoin.

According to Cryptoquant's CEO, Ki Young Ju, after the halving, revenues even "dropped to the level of early 2023."

According to him miners have two options: "Surrender, or 2. wait for the BTC price to rise".

According to Young Ju, there are currently "no signs of capitulation."