📉 BTC mining revenue drops to 12-month low due to April halving. In August 2024, revenue reached only about $827 million, much lower than the peak of nearly $2 billion in March 2024.

🔍 The halving event cut the mining reward from 6.25 BTC to 3,125 BTC per block. The number of BTC mined per month fell from nearly 337,000 (May 2011) to less than 14,000 (August 2024).

📉 Public mining companies such as Core Scientific, Hive Digital Technologies, and Hut 8 are adjusting their business models, investing in AI applications to reduce their dependence on BTC mining revenue.

📈 Hive to grow 36% in Q2 2024 revenue by diversifying into AI services. Bitdeer Technologies Group Increases Gross Profit by 50% on Mining Equipment Upgrades.

💬 What do you think about the future of BTC and cryptocurrency mining? Share your thoughts! 🚀#Bitcoin#Crypto#Blockchain#Finance#Tech#BTC