Post-Halving Reality Hits Bitcoin Miners as Revenue Drops
Post-Halving Pressures Mount for Bitcoin Miners Amid Declining Fees
Bitcoin miners are starting to feel pinched as halved rewards become their new reality post-halving.
A spike in network fees briefly eased their strain. Yet, declining transaction fees are now increasing financial pressure.
Kaiko Research recently reported a surge in daily average network fees after the halving.
This surge helped Bitcoin miners offset some discomfort, albeit temporarily.
- The initial user rush to the Runes protocol has cooled, with transactions plummeting by over 4,500% from April 24 to May 14.
- Halving events often force miners to sell BTC to cover block creation costs. Recent fee declines could renew pressures.
Bitcoin miners' profitability has hit a 3-year low, leading to significant underpayment and likely strain for less efficient miners.
Crypto analyst PlanB sees brighter future, forecasting revenue bounce back in 2 to 5 months.
Fluctuating fees and market conditions pose challenges and opportunities for Bitcoin miners. Recovery in revenue is predicted in the coming months, crucial for sector stability and growth.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.