Bitcoin Mining Revenue Crashes to 11-Month Low: Marathon Digital Suffers
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Bitcoin mining revenue hit an 11-month low in August, falling to $827 million—down 10% from July. The dip comes as Bitcoin’s price dropped 8.6% during the month, reducing miner profits, while the number of mined BTCs also fell by 6%. The industry is still reeling from April’s halving, which slashed block rewards by half. Marathon Digital, a major player in mining, saw its shares sink 13.6% in August amid this downturn. As Bitcoin prices struggle, miners are facing one of the toughest periods yet—will the market rebound?
