Tough Times for Bitcoin Miners: First Half of August Yields Just a Fraction of July’s Profits

August 15, 2024 Bitcoin.com

Bitcoin

With the first half of August in the rearview mirror, it’s clear that bitcoin miners are facing a challenging month, having only accumulated 36.36% of the total revenue they made in July. A combination of bitcoin’s price fluctuations and reduced onchain fees has left miners in a much tighter spot. Bitcoin Miners Face a Hard […]

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Bitcoin Mining Profits Crushed by Record Difficulty and Historic Hashprice Drop

August 7, 2024 Bitcoin.com

Bitcoin

On Aug. 7, 2024, bitcoin’s price moved within a 24-hour range between $55,742 and $57,607. This lower price bracket has significantly reduced bitcoin mining revenue, causing the estimated daily value of 1 petahash per second (PH/s), also referred to as the hashprice, to drop below $36 two days prior. Miners Grapple With Unprecedented Low Hashprice […]

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Historic Drop in Bitcoin Revenue Leaves Miners Struggling

August 4, 2024 Bitcoin.com

Bitcoin

After peaking at 677 exahash per second (EH/s) on July 25, Bitcoin’s network hashrate declined to 629 EH/s as of Aug. 4. The recent uptick in Bitcoin’s mining difficulty, coupled with the subsequent drop in its price, has driven bitcoin mining revenue to record lows. Monthly Bitcoin Fee Revenue Drops 75%, Hashrate Slides 48 EH/s […]

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MARA Reports Q2 2024 Earnings: Revenue Surges Amid Rising Losses and Hashrate Increase

August 2, 2024 Bitcoin.com

Bitcoin

MARA, a leader in digital asset compute, reported a significant revenue increase of 78% to $145.1 million for the second quarter of 2024. Despite this growth, the company faced a substantial net loss of $199.7 million, driven by a $148 million fair value loss on digital assets. MARA Reports Q2 Earnings: Revenue Rises 78% Despite […]

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Coinbase shares rise 3% as Q2 crypto trading doubles from last year

August 2, 2024 Coin Telegraph

COIN

Coinbase has marked its third consecutive quarter in the black, with its net revenue and trading volumes jumping 108% and 145%, respectively, from the prior year.

Coinbase shares rose 3.2% after hours following its latest Q2 results filing — reporting $1.4 billion in revenue in Q2 along with a hefty year-on-year increase in crypto trading volumes.

The crypto exchange reported $266 million in consumer and institutional trading volumes, up from the prior year period and in line with analyst estimates, though it was a considerable drop from the $312 billion reported in Q1.

When it came to revenue, Coinbase gained the most ground from subscription and services revenue, which includes stablecoin revenue, blockchain rewards and fees. This marked a 17% increase from Q1 and nearly doubling from Q2 2023.

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Coinbase Reports $1.4 Billion in Q2 Revenue Amid Industry’s Regulatory Advances

August 2, 2024 Bitcoin.com

Coinbase Reports .4 Billion in Q2 Revenue Amid Industry’s Regulatory Advances

bitcoin.com

Coinbase posted $1.4 billion in total revenue for the second quarter of 2024, marking a period of continued growth and progress in the crypto industry. The company’s earnings report said it also made strides toward regulatory clarity in the U.S., a key development for the broader crypto economy. Coinbase Publishes Q2 2024 Earnings and Shareholder […]

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Cryptoquant Insights: Bitcoin Miners See Revenue Boost as Hashrate Soars

July 31, 2024 Bitcoin.com

Bitcoin

Bitcoin miners are witnessing a resurgence in activity as the network’s hashrate approaches all-time highs, according to the latest research from Cryptoquant. This recovery is attributed to improved revenues, which have led to a reduction in selling pressure from miners. Miners Hold Steady: Bitcoin Hashrate Rises, Selling Pressure Decreases The latest onchain market activities report […]

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Bitcoin Miners Have Been ‘Extremely Underpaid’ Since Mid-June

July 13, 2024 Bitcoin.com

Bitcoin

Bitcoin miners have faced significant underpayment since mid-June, according to metrics from cryptoquant.com. As of now, the estimated value of 1 petahash per second (PH/s) of hashrate remains notably low at $47.79 per PH/s. Despite the revenue decline, Bitcoin’s hashrate is still just under the 600 exahash per second (EH/s) mark. Bitcoin Miners’ Earnings Plummet; […]

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Bitcoin Miners’ June Revenue Dips Slightly Below May

July 1, 2024 Bitcoin.com

Antpool

The revenue generated by bitcoin miners slightly declined in June, totaling $963.67 million, down from May’s $964.24 million. Additionally, the hashprice, or the expected value of one petahash per second (PH/s) of hashpower, decreased from $57 per PH/s to the current $48. Bitcoin Miners’ Hashprice and Revenue Decline in June Miners faced challenges during the […]

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Arbitrum daily revenue surges 16,500% after LayerZero’s ZRO launch

June 21, 2024 Coin Telegraph

Airdrop

LayerZero’s “not an airdrop” ZRO token airdrop has spurred a new peak for Arbitrum’s daily revenue.

LayerZero’s token launch on June 20 caused a massive surge in fees on Arbitrum, leading to a record $3.43 million daily revenue for the blockchain, a bump of around 16,680% compared to ththe day prior.

LayerZero launched the ZRO token on Thursday but triggered criticism over its obligatory “donation” mechanism — which requires claimants to spend a small amount of money per token to nab their allocation.

These mechanics pushed up the average gas fees on the blockchain, which hit 89 cents, up from its typical less-than-1-cent fee.

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