Coin Metrics: Mining profits are under pressure after halving, and Bitcoin mining companies are about to enter an era of consolidation

2024/07/08 09:19

Odaily News Coin Metrics released a report analyzing the current state of the Bitcoin mining market, which pointed out that Bitcoin mining profit margins have been under pressure since the Bitcoin halving in April due to stagnant BTC prices and a sluggish fee market, although short-term on-chain congestion has eased some revenue pressure. On April 20, the Bitcoin block reward dropped from 6.25 BTC to 3.125 BTC, and the hype of the Rune token gradually faded in the following weeks, and May and June were more difficult months for miners. The Coin Metrics report also mentioned that Bitcoin mining companies are about to enter an era of consolidation, and well-funded miners will acquire the assets of less efficient operators. Coin Metrics concluded: To survive the impact of efficiency improvements and competitive pressures, mining companies must look to the future, and the long-term trend of BTC prices remains an unpredictable investment for highly capital-intensive business models. (crowdfundinsider)

原文链接
Latest news
15:59
Opinion: Rising macroeconomics and global liquidity may push BTC to $130,000-140,000 by mid-summer
15:54
Andrew Kang increased his Bitcoin position to $200 million, with a profit of about $6.8 million
15:53
Opinion: Bitcoin holders are the first to see the problem with US economic data
14:50
Bloomberg: Trump family crypto project WLFI has not yet launched its promised DeFi services
14:44
Bitget Onchain Trading (Onchain) launched projects PPPP and MUTUMBO
Recommended Reading