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Bitcoin Mining Profitability Plummets by 75% in Just 3 Years

 

April 17, 2024 (Investorideas.com Newswire) According to Stocklytics.com, Bitcoin mining profits have crunched by 75% in the last three years.

Speaking on the data, Edith Reads, a financial analyst from Stocklytics, said:

"Bitcoin mining is becoming less profitable day after day due to various factors including cost of mining. Also, halvings are anticipated events, but their impact on mining profitability is profound. With each halving, miners receive fewer bitcoins for their efforts."

Bitcoin mining profits stood at 0.39 USD/day for 1 TH/s in March 2021 compared to 0.1 USD/day for 1 TH/s in March 2024. The pattern reveals a 75% fall in profits associated with mining.

The metric to gauge Bitcoin mining profits is hash price, denoted in dollars per terra hash (USD/TH). This value is driven by factors such as BTC price, transaction fees, network complexity, and potential block subsidies.

The full story and statistics can be found here: Bitcoin Mining Profitability Plummets by 75% in Just 3 Years.

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