Bitcoin Mining Revenue In 2022 Dropped 37.5% To $9.55 Billion | Crypto ▪︎ Bitcoin ▪︎ Trading ▪︎ News
Bitcoin Mining Revenue In 2022 Dropped 37.5% To $9.55 Billion
Bitcoin mining revenue in 2022 fell 37.5% year-on-year to $9.55 billion. The market suffered the most from the collapse of LUNA-UST in May and the fall of FTX in November. Top miners such as Core Scientific, Greenidge Generation, and Stronghold Digital Mining also hit hard. Along with poor market conditions, miners also suffered from high electricity costs and record mining difficulty. Data shows that Bitcoin mining revenue in 2022 will drop to $9.55 billion, down 37.5 percent from $15.3 billion in 2021. Since the culmination of a significant rally in 2021, the cryptocurrency has lost more than $2 trillion in market capitalization to less than $900 billion.several companies and projects that failed famously have caused shock waves in the past year.
