Bitcoin miners made a 23% lower revenue in June than in May. This slight fall could be associated with the reduction of fees for processing transactions as well as of the rewards for adding new blocks to the Bitcoin blockchain (after the halving of May 11).
According to CoinDesk, Bitcoin miners made $366M in May, a figure that fell to $281M last month. These figures are calculated assuming miners sell their coins right after mining them.
According to Austin Storms, founder of the mining infrastructure company BearBox, the June figures provide a clear picture of the current situation of the mining business after the halving, as even with an 11% decline in May, the first 11 days of the month are weighted with a reward per mined block of 12.5 BTCs that was later reduced to 6.25 BTCs.
After the halving, the size of the Bitcoin mempool grew significantly and fees also increased. However, the mempool returned to its normal state at the end of the month, which made miners' fees for processing transactions fall again.
In June, fees generated only $12M or 4.3% of the miners' total revenue, while in May the percentage was 8.3%.
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