Bitcoin Mining Revenue Stable, Miner Stocks Potential to Rebound

Bittime - Matrixport shows how income from Bitcoin mining dropped drastically after Bitcoin halving in April 2024.

Even so, shares of Bitcoin mining companies are showing quite stable performance and are expected to experience a rebound soon. Read this article to find out more!

Impact of Bitcoin Halving on Bitcoin Mining Revenue 

Source: x.com/matrixport

In April 2024, the fourth Bitcoin halving, reducing the rewards of 6,25 BTC become 3,125 BTC per block. As a result, daily income from Bitcoin mining has decreased significantly.

Before the Bitcoin halving, daily mining income was quite large, namely around $70 million. After the halving, it fell drastically to $31 million. 

Read Also: Bitcoin Performance in Q3 Weakened, Still the Best Asset in 2024?  

Strategies for Dealing with Bitcoin Mining Revenue Drops

Even though daily income from Bitcoin mining has decreased sharply, shares of Bitcoin mining companies have shown relatively stable performance. 

One of the key strategies implemented by many Bitcoin mining companies is to hold most of the Bitcoins they mine, instead of selling them directly on exchanges. 

This aims to reduce selling pressure in the market, while taking advantage of the potential for long-term Bitcoin price increases. By holding Bitcoin, these companies can earn greater profits when the price of Bitcoin rises, even though they have to bear the risk of price volatility.

Bitcoin Miner Stocks Have the Potential to Rebound

With Bitcoin mining revenues starting to show signs of stabilization, Matrixport estimates that shares of Bitcoin mining companies have the potential to rebound in the near future. 

Although the decline in revenue due to the Bitcoin halving is significant, many analysts believe that the Bitcoin mining market has bottomed out and will now start to recover.

If the price of Bitcoin rises again, then the shares of miners holding large amounts of mined Bitcoin will likely experience a significant spike in value.

Read Also: Bitcoin Price Predicted to Reach New ATH Later This Year  

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