The income received by Bitcoin miners is tumbling amid the depressing market conditions and lower prices. Somewhat expectedly, as the value of the BTC dollar falls, so does mining activity.
Data from Blockchain.com shows that the revenue received by bitcoin miners has been tumbling since its all-time high in November last year. At the time of writing, it stands at about $11,670,337 for November 26 – the lowest level in exactly two years. Source: BlockchainCom
This is a function of BTC’s falling price, which also has an impact on other interesting metrics. For example, the number of profitable days for Bitcoin has also decreased to about 83.40%. Since 2015, it is profitable to hold Bitcoin for about 3738 days. On the other hand, it was unprofitable to hold it for only 747 days. Source: BlockchainCom
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