Bitcoin miners’ income hits a new low on May 1
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Odaily Odaily News: Although the initial enthusiasm about Bitcoin halving and the launch of runes temporarily maintained the daily income of miners, miners' income has dropped significantly since May. On May 1, the total revenue from block rewards and transaction fees hit a new low for the year at US$26.3 million. It is worth mentioning that Bitcoin mining revenue reached an all-time high of US$107 million on April 20. CryptoQuant CEO Ki Young Ju calculated that under the current circumstances, Bitcoin needs to remain above US$80,000 to keep mining profitable after the halving. However, most mining companies have taken active measures to upgrade mining equipment to reduce long-term operating costs while remaining competitive. (Cointelegraph)
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