Bitcoin mining revenue, which was highest in 2021 at $47 million, had gone through a gradual decline before returning to its pre-halving level in December 2022 at $15 million. This level of revenue was seen as a positive sign, as it demonstrated that the bitcoin mining industry was able to weather the period of decreased rewards. As the industry continues to develop, the revenue generated from mining is expected to continue to increase over time.
Pierre Rochard, the Bitcoin Strategist at US-based cryptocurrency exchange Kraken, recently tweeted that the bitcoin mining revenue for December was back to pre-halving levels. He included a graph to show the average daily bitcoin mining revenue from 2016 to 2022. This news is encouraging for bitcoin miners as it indicates that the potential for mining revenue is still strong, even after the halving event. It also shows that the Bitcoin industry is resilient and growing despite the occasional market fluctuations. The post by Pierre is a sign of hope for the future of the Bitcoin industry and its potential for growth.
