Bitcoin miners are starting to feel the effects of the lates

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Bitcoin miners are starting to feel the effects of the latest halving, with industry revenues at their lowest levels since early 2023. According to analytics platform CryptoQuant, "Puell Multiple" Bitcoin fell sharply immediately after the halving between April 19 and 20. On April 28, the figure was just 0.73, well below its 365-day simple moving average of 1.43. Miners now have two options: 1. Capitulate, or 2. Wait for the price of $BTC to rise,” CryptoQuant CEO Ki Young Ju tweeted on Tuesday. Although miner earnings are now severely depressed, the halving day itself was unusually profitable for miners, generating $106 million in revenue compared to ~$68 million in previous days.

Bitcoin miners are starting to feel the effects of the latest halving, with industry revenues at their lowest levels since early 2023.
According to analytics platform CryptoQuant, "Puell Multiple" Bitcoin fell sharply immediately after the halving between April 19 and 20.
On April 28, the figure was just 0.73, well below its 365-day simple moving average of 1.43.
Miners now have two options: 1. Capitulate, or 2. Wait for the price of $BTC to rise,” CryptoQuant CEO Ki Young Ju tweeted on Tuesday.
Although miner earnings are now severely depressed, the halving day itself was unusually profitable for miners, generating $106 million in revenue compared to ~$68 million in previous days.