[Bitcoin miners' income fell to a 12-month low in August] Golden Finance reported that Bitcoin miners' income fell to a 12-month low in August 2024, mainly affected by the halving event in April. According to data from Bitcoin monitoring platform Bitbo, mining revenue in August was about $827 million, lower than any month since September 2023 and far below the peak of nearly $2 billion in March 2024. The halving event, which occurs every four years, cuts the Bitcoin reward per block in half. The halving in April reduced the reward from 6.25 BTC to 3.125 BTC. Since the halving, the number of Bitcoins mined each month has steadily declined, from a high of 347,000 BTC in May 2011 to less than 14,000 BTC in August. JPMorgan's report pointed out that the fourth Bitcoin halving event has led to a reduction in daily mining output and revenue opportunities, affecting miners' profit margins and profitability. The five listed Bitcoin miners that JPMorgan follows saw a 28% drop in mining volume in the second quarter. In response to falling revenue, bitcoin miners are adjusting their business models, with some companies such as Core Scientific, Hive Digital Technologies and Hut 8 investing in artificial intelligence applications, while others such as Bitdeer Technologies Group are improving mining efficiency. Bitdeer reported that its gross profit in the second quarter of 2024 increased by about 50% year-on-year.