Bitcoin Miner Revenue In August Tanks 57% from 2024 Peak, Another Sell-off Coming?

Quick Summary:

During the last month of August, the Bitcoin miners recorded the lowest monthly revenue in a year’s time, dropping by a massive 57% from the peak of 2024.

This raises the question of whether the BTC miner capitulation is really behind us or if the market is preparing for another major sell-off ahead.

Now, as they continue to face heat with dropping revenue, the BTC miner selling spree could kickstart once again to generate more cash.

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Article Details

Author / Journalist: Bhushan Akolkar

Category: Crypto

Markets: India

Topics: BTC Miner 24/7 Cryptocurrency News Bitcoin (BTC) Price Bitcoin News Bitcoin miner capitulation Bitcoin Miner

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-02 @ 09:17:07 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 481 words

Reading Time: 3 minutes read

Sentences: 45 lines

Sentence Length: 11 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 22329594

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About CoinGape

Main Topics: Crypto

Official Website: coingape.com

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News Last Updated: 9 hours ago

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