Stronghold Digital Mining reported monthly Bitcoin mining output dropped 47.1% in May.
The company mined 82 BTC in the first month after the halving, compared to 155 BTC in April.
The company's revenue for the month was 5.2 million USD, down 46% compared to the previous month.
Stronghold has clearly explained that this decrease is due to the halving event. The company said:
“The main reason for the decline is the first month of activity after the halving.”
The company also reported an average hash price of 0.052 USD/TH/s in May, down from 0.095 USD in April. The company attributed this change to the halving event and reduced block rewards, decreasing the price of Bitcoin 0.8%, and transaction fees decreased from 25.3% in April to 7.4% in May.
The company recorded a network hash rate of 1.2%, somewhat offsetting the downward trend.
Widespread decline in output
Similarly, Cipher Mining reported that it mined 166 BTC in May compared to 296 BTC in April, representing a 43.9% decrease from the previous month.
The company acknowledged the impact of Bitcoin's halving but emphasized that it remained cash flow positive and expanded its warehouse and operating locations.
Marathon Digital fared slightly better, reporting that it produced 616 BTC in May, down 27.5% from 850 BTC in April. The company said it mitigated the decline by how to increase the number of blocks mined in May to 170 blocks — up from 129 blocks in April.
Marathon said it held 17,857 BTC at the end of May and sold 390 BTC in May. The company reports an energy hash rate of 29.3 EH/s and an installed hash rate of 30.6 EH/s .
CleanSpark, Riot Platforms, and Bitfarms also reported similar declines in their BTC output.
Bitcoin's halving event took place on April 20, 2024, reducing the block reward from 6,250 to 3,125. This event has also affected the difficulty of mining.
Source: https://tapchibitcoin.io/cac-tho-dao-tiep-tuc-bao-cao-su-y-giam-trong-san-luong-bitcoin-after-su-kien-halving.html
