Riot Platforms, a major player in the Bitcoin mining industry, reported total revenue of $70 million for the recent quarter, a decrease from the $76.7 million recorded during the same period last year. This decline is largely attributed to the Bitcoin halving event that took place in April.
Read MoreBitcoin miners are feeling the heat as the market experiences a significant sell-off. In the past three days, miners have offloaded a staggering amount of Bitcoin, equivalent to five days' worth of mining revenue.
Read MoreBitcoin (BTC) has seen a decrease in its ticker value, now at $70,754. Riot Platforms, a prominent miner, produced 215 BTC in May, marking a 43% decrease compared to the previous month.
Read MoreAccording to crypto trader Peter Brandt, Bitcoin (BTC) is currently experiencing a downturn, with its price at $68,589. Brandt suggests that based on the trajectory of previous post-halving bull markets, Bitcoin could potentially peak between $130,000 to $150,000 in late August to early September.
Read MoreUnlike previous Bitcoin halving events, the fourth halving saw a distinct change. While miners now receive reduced block subsidy rewards from 6.25 BTC to 3.125 BTC, they still earn additional rewards from transaction fees per block.
Read MoreA prominent figure in the cryptocurrency community suggests that the markets have yet to fully absorb the impact of Bitcoin's recent halving, which halved the rewards for BTC miners.
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