Bitcoin miners are churning less in revenue, looking at trackers on August 28. According to Hashrate Index data, a platform that tracks the correlation between hash rate and revenue accrued by miners over time, income generated from Bitcoin mining operations is at near record lows.
Bitcoin Miner Revenue Declining
At $0.059 per Tera Hash (TH) daily, the trend doesn’t look exciting for Bitcoin miners as it is cents away from $0.056, a level recorded in late November 2022.
At the depth of last year’s crypto winter when prices fell, cracking below $16,000, hash price, which measures the potential revenue expected from deploying 1 Tera Hash of hash rate to the Bitcoin network per day, crumbled to the lowest point in three years.
While BTC supporters are optimistic, expecting prices to recover in the second half of 2023, miners must contend with lower revenue. How this impacts their operations is yet to be seen because miners depend on income generated from deploying hash rate to cate
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