Global #Bitcoin halving

In October, two major players in the Bitcoin mining industry—Marathon Digital and Riot Platforms—reported strong Bitcoin production numbers, marking their highest monthly outputs since the Bitcoin halving event in April 2024.

Bitcoin miners are increasingly adopting innovative strategies to navigate the evolving landscape of cryptocurrency mining. The recent Bitcoin halving in April 2024, which reduced mining rewards by half, has intensified the need for cost-cutting measures and diversification.

The most recent Bitcoin halving event took place on April 19, 2024, generating considerable excitement among investors who recalled the impressive returns from previous halving years.

On August 11, 2024, Bitcoin mining revenue hit a new yearly low, falling to $2.54 million. This marks the lowest daily earnings for Bitcoin miners since October 2023.

Bitfarms, a prominent Bitcoin mining company, has announced a notable 34% month-on-month (MoM) increase in earnings for July, attributing the growth to significant upgrades and expansion of its mining operations.

Marathon Digital Holdings, now rebranded as MARA, has reported a significant widening of its losses for the second quarter of 2024. The company's net loss reached $199.7 million, a sharp increase from the $9 million loss reported in the same period last year.