Arcane Research: Bitcoin Miners’ Revenue Falls to 2020 Levels

Arcane Research: Bitcoin Miners' Revenue Falls to 2020 Levels

The company’s analysts have highlighted public mining companies usually have access to lower electricity rates. In addition, their equipment fleet consists of highly efficient devices.

Despite this, the miners sold 100% of the Bitcoins mined during the month in May. Since the beginning of the year, they have been selling between 25% and 40% of the mined cryptos.

According to experts at Arcane Research, in addition to the fall in prices, the increase in the Bitcoin hashrate and, consequently, in the complexity of mining, have also affected the profitability of the activity.

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