Since July 2022, the ecosystem recovered through many important factors, including miner revenue, mining difficulty, and hashrate.

Bitcoin mining revenue rebounded to 68.6%, BTC price surpassed $25,000
Mining revenue bounced back to 68.6%, price crossed the $25,000 mark

Mining industry Bitcoin () suffered tremendous financial stress throughout 2022 as the prolonged bear market directly impacted miner earnings.

However, the miners who struggled with the lowest mining revenue of 2022 in May finally reaped the rewards as their mining revenue rebounded to 68,63% within a month Over the past few years, it has largely been driven by the “plunging” mining costs along with the price BTC, hit a 10-month low.

According to data from .com, BTC mining revenue increased from $13,928 million on July 13 to $23.488 million on August 15. The significant increase in revenue ensures that the Bitcoin mining sector is a viable business despite the relatively high overall overhead costs.

Additionally, lower mining equipment (GPU) prices have allowed BTC miners to expand their existing infrastructure in pursuit of the last 2 million BTC in supply.

Total miner revenue as of August 15, 2022. Source: Blockchain.com
Total miner revenue as of August 15, 2022. Source: .com

Along with mining revenue, Bitcoin's hashrate also increased by more than 10% over the previous month, adding to the network's resilience against double-spend attacks.

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Total hashrate of miners as of August 15, 2022. Source: Blockchain.com
Total hashrate of miners as of August 15, 2022. Source: Blockchain.com

Therefore, network difficulty – a measure of how difficult it is to mine a new BTC block, which has increased for the first time since June 2022.

Miner difficulty data as of August 15, 2022. Source: Blockchain.com
Miner difficulty data as of August 15, 2022. Source: Blockchain.com

Reflecting the positive results on the Bitcoin network, miners Famous BTC dumps in the past include Hut8 Mining Corp, Marathon Digital Holdings and Core Scientific, which have reported soaring stock prices, each performing at least 95% better than in June. 2022. However, all three companies posted increasingly large losses, due to losses due to the decline in ownership their.

However, perhaps due to the strong recovery results from miners, Bitcoin reacted quite strongly earlier this week, quickly growing past the $25,200 mark and correcting slightly at the $24,728 price zone at the time. article performance score.

1H price chart BTC price/. Source: coinmarketcap

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