Bitcoin (BTC) Revenue Plummets from $107 Million to $26 Million: A New Era in Crypto Economy

• Bitcoin miners’ revenue has significantly decreased after the recent halving event.
• According to Blockchain.com data, Bitcoin miners made a total of $26 million from block rewards and transaction fees on May 1st, marking the lowest revenue day of 2024.
• Many mining companies updated their devices before the halving to prepare for the new era and operate efficiently in the long term.

Following the recent Bitcoin halving, miners are seeing a significant decrease in revenue. Despite efforts to prepare for this new era, the impact is evident in the lowest revenue day of 2024.

Bitcoin Miners’ Revenue Plummets Post-Halving

After the Bitcoin halving event on April 20th, block rewards dropped from 6.25 BTC to 3.125 BTC. Miners initially didn’t feel the effects of the halving due to the interest shown in the Runes protocol, which increased transaction fees. However, the decline in daily revenues indicates the onset of the post-halving period.