TechFlow reports that Bitcoin miners faced their most challenging month of the year in August 2024, recording the lowest revenue since September 2023.
According to The Block data, total miner revenue (including block rewards and transaction fees) reached $851.36 million in August, down $99.75 million from July. On-chain fee income amounted to $20.76 million, a decrease of $4.14 million compared to July, also falling to the lowest level since last year.
During block heights 855,014 to 859,303, miners mined a total of 4,289 blocks. Foundry USA and Antpool secured 29.10% and 25.04% of the share respectively, collectively accounting for 54.14% of total revenue.
Notably, on August 22 when Babylon launched staking, several high-fee blocks emerged, with Foundry and Antpool becoming primary beneficiaries thanks to their dominant computing power.
