In August 2024, global Bitcoin miners ushered in the most challenging month of 2024. According to data from The Block, the total revenue of Bitcoin miners in August fell to $851.36 million, a new low this year, a decrease of $99.75 million from July, showing the continued expansion of miners' pressure.
According to the data, the on-chain fee income in August was $20.76 million, a decrease of $4.14 million from July. In August, Bitcoin miners mined a total of 4,289 blocks, with block heights ranging from 855014 to 859303, but the overall weakness of the market, especially the volatility of Bitcoin prices, further affected the profitability of miners.
