Bitcoin Miners' Revenue Sees Slight Uptick Amid Halving Pain

Bitcoin miners earned $1 billion in revenue last August, according to newhedge.io analytics. This figure is comprised of rewards alone and does not include transaction fees, which accounted for just over $7 million or 0.7044% of the total collected.

The network's hashrate has remained above 900 exahash per second (EH/s), while the price per output of petahash per second (PH/s) - also known as hashprice on a daily rate - stands at around $38.86 per PH/s.

Miners hold approximately 1.92 million BTC, but recent data shows they are holding onto their coins. Newhedge.io stats reveal rewards in August stood at around $1.001 billion, and fees were just over $7 million.

The data also highlights some decent bursts of miner outflows, including more than 15,000 BTC during the first week of August and a spike of around 9,000 BTC from miners to external addresses the following week.

While the upswing marks an improvement from earlier summer conditions, hashprice and revenue have been significantly slashed since the 2024 halving. Miners are yet to find solid ground, with many struggling to adapt to the new market landscape.