In June, miners of the first cryptocurrency generated a total revenue of $668 million. The indicator is down 26% from the previous month tracked from the ForkLog report.

The Bitcoin hash rate remained virtually unchanged throughout the month – the adjusted seven-day moving average (7 MA) rose just 1% to 214.65 EH/s.

Mining difficulty decreased by the same 1% to 29.57 T.

Against a backdrop of price drops, the hashprice (the cost of a daily mined cryptocurrency per terahash of strength) has dropped to $0.09, which is in line with October 2020.

According to Arcane Research researchers, the latest generation ASIC miner Antminer S19 brings in about $13,000 per BTC mined (with electricity costs of $40 per MWh). The old Antminer S9 is already running at a loss.

In such a situation, many miners are forced to sell cryptocurrency to cover costs, which puts pressure on the market.

In June, Ethereum miners’ overall revenue decreased by 52% – $694 million worth of ETH was mined in one month. That’s less than in January 2021 ($798 million).

The average commission per transaction on the second-largest cryptocurrency network by capitalization fell by 53.7% over the month to $4.27, compared to July 2021 values. In the second half of June, the average commission for a bitcoin transaction did not exceed $2.

Against the backdrop of weak economic performance and partial capitulation, shares of mining companies like Ebang tumbled by up to 50% during the month. Quotations for the Hut 8 and Marathon newspapers fell 48%.

Sponsor of “Bitcoin industry by numbers” column – global blockchain ecosystem Binance.

Recall that ForkLog understands how the drop in the price of the first cryptocurrency affected large miners and what the industry’s future prospects are.

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