The Total Bitcoin Mining Revenue Drops to A Two Year Low
The Bitcoin price crash this year in 2022 has put severe pressure on Bitcoin miners who have been constantly liquidating their BTC holdings to meet their operational costs. As per the latest report, the Bitcoin mining revenue has dropped to its lowest in about two years amid multiple factors playing into it.
The high energy demand has resulted in soaring energy costs shrinking the miner’s profitability. At the same time, big players continue to invest in high-end equipment to meet hashrate requirements. Citing data from the hash price index, Bloomberg reports that the mining revenue value per unit of computing power has dropped to 7.7 cents for each terahash, the lowest in two years since September 2020.
Source
t.me/Mining_Crypto_Miner
