According to the data available on The Block, Bitcoin (BTC) miners generated $555 million in revenue in July 2022. On the other hand, in June 2022, BTC miners generated $667 million in revenue. This indicates more than a hundred million dollar drop in Bitcoin mining revenue or a 16.7% decrease. Miners have been facing the brunt of the recent market crash. Many Bitcoin miners opted to sell their rigs as profitability fell.
Bitcoin Miners’ earnings dropped 167 from June to July
