Since Bitcoin's fourth halving on April 20, the miner revenue per exahash has taken a dramatic hit. On April 20, it was $190,620 per exahash, but by May 2, it had plunged to an all-time low of $44,538. Despite a fleeting recovery on June 7, reaching $91,774 due to a spike in transaction fees, the figures have largely stabilized at a lower level. As of July 1, miner revenue stands at $48,230, persistently signaling economic strain. This prolonged dip below the yearly average is reshaping the industry. How are major mining players adapting to this new financial reality? The strategies they're employing might just redefine the entire sector...
Bitcoin miners diversify and consolidate to survive revenue drop Bitcoin miners diversify and consolidate to survive revenue drop
Halving halts Bitcoin miner profits, sparking strategic pivots.
3 min read
Updated: Jul. 2, 2024 at 3:47 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Featured Story
Advertise Here
In this article
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
CleanSpark
CleanSpark (NASDAQ: CLSK) is a sustainable bitcoin mining and energy technology company that is incorporated in Nevada.
Marathon Digital
Marathon Digital Holdings is a digital asset technology company that mines cryptocurrencies with a focus on the blockchain ecosystem and the generation of digital assets.
Bitdeer
Bitdeer is a provider of digital mining services for popular PoW cryptocurrencies.
Core Scientific
Core Scientific is a leader in infrastructure and software solutions for Artificial Intelligence and Blockchain.