3 months ago
Stronghold Digital Mining reported a 47.1% diminution successful its monthly Bitcoin mining output successful May.
The steadfast mined 82 BTC during the archetypal afloat period pursuing the halving, compared to 155 BTC successful April.
Meanwhile, revenues for the period came successful astatine $5.2 million, a 46% driblet from the erstwhile month.
Stronghold explicitly attributed the driblet to the halving. The steadfast said:
“The superior operator of the diminution was owed to the archetypal afloat period of post-halving operations.”
The institution besides reported an mean hash terms of $0.052 per TH/s successful May, down from 0.095 successful April. It attributed the alteration to the halving and reduced artifact rewards, a 0.8% diminution successful Bitcoin’s price, and transaction fees falling to 7.4% successful May from 25.3% successful April.
It observed a web hash complaint of 1.2%, partially offsetting the trend.
Decline successful accumulation crossed the board
Similarly, Cipher Mining reported that it mined 166 BTC successful May versus 296 BTC successful April, representing a 43.9% month-over-month drop.
The institution acknowledged the interaction of Bitcoin’s halving but emphasized that it maintained affirmative currency flows and expanded its inventory and cognition sites.
Marathon Digital fared a small better, reporting that it produced 616 BTC successful May, down 27.5% from 850 BTC successful April. The institution said it mitigated the simplification by expanding the fig of mining blocks it won successful May to 170 — up from 129 blocks successful April.
Marathon said it held 17,857 BTC astatine the extremity of May and sold 390 BTC implicit May. It reported an energized hash complaint of 29.3 EH/s and an installed hash complaint of 30.6 EH/s.
SCleanspark, Riot Platforms, and Bitfarms besides reported similar declines successful their BTC output fell
The Bitcoin halving occurred connected April 20, 2024, reducing artifact rewards from 6.250 to 3.125. The lawsuit has besides impacted miner difficulty.
The station Bitcoin halving cuts production, sinks revenues for apical miners appeared archetypal connected CryptoSlate.
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