Bitcoin mining revenue hits yearly low: Is BTC’s security at risk?
Bitcoin’s (BTC) mining revenue plunges to new lows following the halving event, raising concerns about the network’s security and profitability for miners. Daily revenue from Bitcoin mining has dramatically fallen to under $3 million from an average of roughly $6 million in early 2024, marking a significant decline. This downturn follows the Bitcoin halving on April 20, 2024, which reduced the block reward from 6.25 BTC to 3.125 BTC, effectively halving the miners’ income from block rewards. Despite a brief surge in transaction fees due to the introduction of a new token standard called Runes, which spiked the daily transaction fees to an all-time high of $78.3 million on April 20, the hype was short-lived. Picks for you Astar Network offers a new grant for token launches on Astar zkEVM 40 mins ago Opportunity? Bitcoin reconfirms $150,000 target 43 mins ago Silent Protocol unveils Ghost Layer, a modular Layer 1.5 for Ethereum 1 hour ago This So...