Bitcoin (BTC) Mining Revenue Drops to Before 2021 Bull Level

Bitcoin (BTC) mining revenue fell to the lowest level in the last two years, while the hash rate decreased. A similar situation was last experienced before the 2021 bull.

Bitcoin mining revenue hits two-year low $11.67 million declined. a similar data November 2, 2020 market price of bitcoin $13,500 was observed in the vicinity. A few months after these levels, which were last seen in 2020 2021 bull season had begun.

October an all-time high at the end of the month 316.7 EH/s rising to levels Bitcoin hash ratehas witnessed a steady decline over the past month, looking at the latest data, and the average per second to 220 EH/s as much as it declined.

on the other hand Bitcoin mining difficulty level the all-time high 36.95TIts location in , restricts the profit rate of the miners. The next block is yet to be completed. 8 days Although it is a while, according to the estimates for now, the future block difficulty is %6.35 expected to decrease. If the decrease occurs, it is thought that miners can breathe a little, at least for the short term.

In the process we are in, factors such as decreases in Bitcoin price and increasing energy prices make Bitcoin mining more unprofitable when viewed in dollar terms.

worldwide proof of Work (PoW) last week as the mining discussions continued new York Governor Kathy Hochul, had passed the bill that would ban mining with the PoW system within the state borders for the next 2 years. In recent days, with his warm attitude towards blockchain and cryptocurrencies, Russia if 2023 It continues its efforts to pave the way for this area with a mining law that may come into effect in 2018.

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