BroadChain, a cryptocurrency news outlet, recently reported that miner income has significantly declined since May, despite the initial hype surrounding Bitcoin halving and the launch of Rune. On May 1st, total revenue from block rewards and transaction fees hit a new low for the year at $26.3 million, a stark contrast to the record-high of $107 million achieved on April 20th.
According to Ki Young Ju, the CEO of CryptoQuant, Bitcoin would need to maintain a price above $80,000 in order for mining to remain profitable post-halving. However, many mining companies are taking proactive measures to upgrade their equipment and reduce long-term operational costs while remaining competitive.
