Miner revenues are a key gauge for the health of the Bitcoin ecosystem, balancing costs, prices, and difficulties. Since late April, revenues have lagged behind their annual average, hitting a low point in early August. This decline ties closely to Bitcoinโs price dips and the increasing difficulty of mining it. A structural change from the April halving slashed block rewards, squeezing profit margins tighter. But, what does the latest drop in the Puell Multiple reveal about the future of Bitcoin mining and potential buying opportunities? Discover the crucial insights...
Puell Multiple drops as miner revenues hit 10-month low Puell Multiple drops as miner revenues hit 10-month low
Bitcoin miners are feeling the pressure as the post-halving downturn gets exacerbated by price drops.
3 min read
Updated: Aug. 13, 2024 at 4:02 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
