Bitcoin Miner Balance Drops Below 1.81 Million BTC
According to Glassnode data, the balance of Bitcoin miners decreased from approximately 1.84 million BTC in early 2023 to nearly 1.8 million BTC in May 2024. This decrease indicates that miners have increased selling to offset operating costs, and the decrease in block rewards after halving may exacerbate this situation. After halving, transaction fees surged, accounting for 75% of miner revenue, as miners rely more on transaction fees to adapt to lower block rewards. This shift indicates a fundamental change in miners' sources of income and may affect their future strategies.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Core Scientific Nets $580M in Q1 Despite Revenue Miss, Eyes AI and HPC Future
Nasdaq-listed Bitcoin miner Core Scientific Inc. has reported a net income of $580 million for the first quarter of 2025, more than double the $210 million recorded during the same period last year. However, the firm fell short of analyst expectations for revenue, signalling the growing impact of industry shifts and operational transformation.
Federal Reserve’s Tight Policy Affects Bitcoin Growth
[Initial Listing] Bitget Will List Doodles (DOOD). Come and grab a share of 7,250,000 DOOD !
SEC Settles Lawsuit with Ripple and Executives
Trending news
MoreCrypto prices
More
