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Bitcoin Mining Revenue Falls to Two-Year Lows

Katie Lin

Summary: Bitcoin mining revenue has fallen to two-year lows owing to poor market conditions, according to reports by Cointelegraph. The total Bitcoin mining revenue in the United States has fallen down to $11.67 million, a number last seen on Nov. 2, 2020, when Bitcoin’s trading price had been at around $13,500. Even though Bitcoin’s current market ...

Bitcoin mining revenue has fallen to two-year lows owing to poor market conditions, according to reports by Cointelegraph.

The total Bitcoin mining revenue in the United States has fallen down to $11.67 million, a number last seen on Nov. 2, 2020, when Bitcoin’s trading price had been at around $13,500.

Even though Bitcoin’s current market price has risen to around $16,500, mining revenue has instead fallen, owing to greater mining difficulty and rising energy prices.

Many in the mining community have turned to acquiring cheaper mining tools and moving to areas with lower energy prices to combat rising costs.

Author: Katie Lin

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Link: Bitcoin Mining Revenue Falls to Two-Year Lows   [Copy]
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