Bitcoin miner revenue is at its lowest point since November 2020 as the price continues to struggle around $16.5K.
The revenue Bitcoin miners receive is tumbling amid the depressing market conditions and lower prices. Somewhat expected, as the BTC dollar value goes down, so do the proceedings from mining.
Data from Blockchain.com reveals that the revenue bitcoin Miners get is tumbling ever since the all-time high reached last year in November.
At the time of this writing, it stands at around $11,670,337 for November 26th – the lowest it has been in exactly two years.
Source: BlockchainCom
This is a function of BTC’s declining price, which also has an impact on other interesting metrics.
For example, the number of profitable days for Bitcoin has also declined to about 83.40%.
Since 2015, it’s been profitable to hold Bitcoin for roughly 3738 days. On the other hand, it’s been unprofitable to hold it for only 747 days.
Georgi Georgiev is CryptoPotato's editor-in-chief and seasoned writer with over four years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping. Contact George: LinkedIn
