Bitcoin Miners Receive Lowest Revenues in Almost a Year

Bitcoin miners experienced a significant decrease in revenue in August, the lowest amount since September 2023.

According to Bitbo data, miners generated approximately $827.56 million last month, marking a decrease of over 10.5% from July’s revenue of $927.35 million.

However, this still represents a 5% increase from August 2023. This decline is significant, as it represents a 57% drop from the peak seen in March 2024, where miners earned just under $1.93 billion.

This peak coincided with Bitcoin’s all-time high of over $73,500 on March 13.

This August revenue is the lowest recorded since September 2023, when miners earned $727.79 million, with Bitcoin trading around $25,000 throughout the month.