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Bitcoin Miners See Lowest Daily Revenue in Over a Year

  • Bitcoin miners experienced their lowest daily revenue in over a year, with earnings dropping to the lowest level since April 2024.
  • The decline in revenue is attributed to decreasing transaction fees and recent price declines in the cryptocurrency market, which have put pressure on mining profitability.
  • The Miner Profit/Loss Sustainability model suggests that miners are currently more underpaid than they have been since July 2024, raising concerns about capitulation risk for smaller mining operations.
  • Historically, sharp miner underpayment could indicate potential market turning points, although some view it as a buy signal. Low revenues may lead to hashrate declines or equipment sell-offs, impacting network stability.

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