Golden Finance reported that CryptoQuant data showed that miners' daily revenue has fallen 75% to $26.5 million since the halving in April. Transaction fees earned by miners have fallen to 3.7% of total revenue after jumping to a high of 75% earlier that month. Le Shi, head of trading at Auros, a market making and algorithmic trading company, said the $51,000-52,000 range is crucial because many Bitcoin miners are reaching the break-even point for profitable mining.