Ethereum

2024

Bitcoin

Daily

<ul>
 <li>Bitcoin miners recorded their lowest daily revenue of 2024 at $2.5 million.</li>
 <li>To sustain operations, miners are focusing on energy efficiency.</li>
</ul>
In 2024, Bitcoin miners have encountered significant financial challenges, with daily revenue dropping to an unprecedented low of $2.5 million. This decline marks the lowest point in the year and reflects the increased difficulty of mining operations. According to the information on <a href="http://bolckchain.com" rel="noopener noreferrer nofollow">Blockchain.com</a>, the mining revenue has dropped to -0.06%. It is currently at $3.1M, up from 24.92M yesterday and down from $31.29M one year ago.&nbsp;
Several factors contribute to this revenue decline. The heightened network difficulty and the <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">sluggish</a> Bitcoin price performance have resulted in fewer transactions and lower fees. To combat these financial pressures, miners are adopting various strategies.&nbsp;
To reduce operational costs, many are investing in more energy-efficient mining hardware and exploring renewable energy sources. Others are diversifying their revenue streams by participating in ancillary blockchain activities. Such as staking or providing liquidity in <a href="https://thenewscrypto.com/defi-liquidations-hit-new-annual-high-amid-crypto-market-sell-off/" rel="noopener noreferrer nofollow">decentralized finance</a> (DeFi) protocols.
A potential recovery in <a href="https://thenewscrypto.com/can-bitcoin-btc-bounce-back-from-this-recent-dip/" rel="noopener noreferrer nofollow">Bitcoin’s price</a> or significant network upgrades could ease some of these pressures. But miners must remain adaptable to survive in this evolving landscape.
<h4 class="wp-block-heading" id="h-highlighted-crypto-news-today">Highlighted Crypto News Today:</h4>
<a href="https://thenewscrypto.com/ethereum-median-gas-fees-plunges-to-record-5-year-low/" rel="noopener noreferrer nofollow">Ethereum Median Gas Fees Plunges to Record 5-Year Low</a>

Bitcoin Miners Face Record-low Daily Revenue in 2024

TheNewsCrypto

Other articles published on Aug 12, 2024

UXLINK Unveils Next-Gen Social Growth Omni-Chain Infrastructure to Empower Builders and Scale App...

SEC Pushes Back Against Coinbase’s Demand for Gensler Emails on Digital Assets

Cisco to layoff more employees 6 months after firing 4,000 to focus on AI, others

Do Kwon to be Extradited to South Korea: Montenegro Court Upholds Decision

What is Ethena Labs’ USDe Stablecoin?

Investors Show Interest in XRP Options Market

Join our free newsletter for daily crypto updates!