Total revenue of Bitcoin miners in November stood at $473.2 million. The figure declined by 20% compared with с октябрем, according to аналитического отчета ForkLog.
Revenue from transaction fees brought miners $12 million, up from $7 million a month earlier.
Overall revenue decline was driven by a drop in Bitcoin price and rising mining difficulty — on 21 November the metric достиг нового максимума на отметке 36,95 Т.
As a result, hashprice hit historic lows, dropping to $0.056 per 1 TH/s.
Aggregate Bitcoin network hash rate (7 MA) barely changed in November, though it dipped to 234 EH/s amid a deep market correction. This could reflect miners shutting down part of their equipment.
For example, at the end of the month, Hut 8 Mining paused operations at one of its facilities at 1.17 EH/s. After receiving default notices from two Iris Energy units, they took offline capacity amounting to about 3.6 EH/s.
In terms of pools, Foundry USA strengthened its lead in hash-rate share with a 26.4% stake. It is followed by AntPool, F2Pool and Binance Pool.
The latter’s share for the month rose from 12.4% to 13.1%. In November, Binance Pool introduced a cloud-mining service for Bitcoin.
The month was tough for the mining industry’s publicly listed players, with most reporting double-digit declines. While Canaan reported an collapse of quarterly profit by 90%, Riot Blockchain and Marathon Digital managed only to trim losses for the period.
In the latest adjustment, Bitcoin mining difficulty fell by 7.32% to 34.24 T. A comparable drop in the metric has not been seen since July 2021.
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