2024

Foundry

Bitcoin

April

August 2024 marked the toughest month for <a href="https://ultramining.com/news/en/russias-bitcoin-gold-rush-mining-machine-influx-outpaces-rest-of-the-world/" rel="noopener noreferrer nofollow">Bitcoin miners</a> this year, with earnings reaching their lowest point since September 2023. Bitcoin mining revenue in August dropped by a staggering $99.75 million compared to July, with total earnings amounting to $851.36 million.
This significant decline was compounded by a sharp decrease in transaction fees, which fell by $4.14 million month-over-month. The reduction in revenue was further exacerbated by the effects of the April 2024 Bitcoin <a href="https://ultramining.com/news/en/heat-waves-and-halving-bitcoin-miners-cash-in-amid-rising-prices/" rel="noopener noreferrer nofollow">halving</a>, which saw block rewards slashed from 6.25 BTC to 3.125 BTC, tightening profit margins for miners.
Between blocks 855,014 and 859,303, miners managed to mine 4,289 blocks, with <a href="https://ultramining.com/en/ratings/foundry/" rel="noopener noreferrer nofollow">Foundry</a> USA and Antpool claiming over half of the total revenue. Foundry USA secured 1,248 blocks (29.10%), while Antpool found 1,074 blocks (25.04%), demonstrating the intense competition and concentration of mining power among the top pools.
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Bitcoin Miners Face the Harshest Month of 2024 as August Earnings Plummet

Ultramining_Eng

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