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BTC mining takes much more time, resulting in a decrease in daily revenues of -80%

Bitcoin miners are experiencing difficult times after the shutdown of Chinese farms, the hash rate is falling sharply.

Published 28 June 2021 1 min read

By Thomas Alford

BTC mining takes much more time, resulting in a decrease in daily revenues of -80%

The latest data from Glassnode analysts show that mining the Bitcoin block is much more difficult after the shutdown of the Chinese miners.

Proof of this are the statistics from yesterday when it took a long time to mine one Bitcoin block on average 23.3 min, which should be the largest daily average interval since the almost complete beginnings of the Bitcoin network.

During the whole day, only 58 BTC blocks were mined, which is a significant decrease of -60% compared to the previous period when an average of 144 blocks were mined per day.

It is also important to note the drop in daily revenues of Bitcoin miners, which fell from $ 70M in May to yesterday's $ 12.8M, which means a drop of -80%.