Bitcoin miners’ revenue drops below $1 billion

Bitcoin mining revenue fell under $1 billion in August due to decreasing investor interest, which led to falling prices as well as difficulty in mining the cryptocurrency.

Despite a 10% rise in revenue from $597.35 million in July to approximately $657 million in Aug., per the Block based on data from Coin Metric, revenue from the largest cryptocurrency by market capitalization remained far below the $1 billion threshold miners became accustomed to in 2021.