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Income of BTC miners drops

Income of BTC miners drops

It is a surprising turn of events: Bitcoin miners have lost the lion’s share of their earnings. Let us figure out what happened. 
According to Bitbo, Bitcoin miners earned $827 million in August. However, experts point out that this is the lowest income since September 2023. It turns out that in the last month of summer, the producers of the first cryptocurrency made $827 million. This is a 10.5% drop compared to July 2024, when miners earned $927 million. For reference, back in September 2023, miners managed to rake in $727.79 million.
Analysts note that the total income of miners in August 2024 was 57% lower than the peak earnings in March 2024, when profits reached $1.93 billion. Back then, the price of Bitcoin hit an all-time high of $73.5K, as reported by Bitbo.
Experts blame this downturn on a decrease in transaction volumes and the increasing difficulty of mining Bitcoin.
At the end of the summer, it was revealed that there was a sharp rise in the number of people worldwide who hold over $1 million in crypto assets. This group now consists of 172,300 individuals. Among them, 325 people have crypto assets worth $100 million or more. Meanwhile, the number of crypto billionaires remains under 28.

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