TechFlow news, Matrixport released a chart showing that since the Bitcoin halving in April 2024, daily mining revenue has sharply declined from $70 million to $31 million. However, mining stocks have performed relatively robustly—slightly underperforming Bitcoin but overall better than expected. As revenues gradually bottom out, mining equities may be poised for a rebound.
Many mining companies have chosen to hold onto their Bitcoin inventory and reduce selling on exchanges, thereby alleviating market selling pressure. This strategy not only provides shareholders with operational leverage to Bitcoin but also increases inventory leverage. Shareholders of MicroStrategy have achieved substantial returns through a similar approach.
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