28 May, 2025
Bitcoin miners lose $40 million in April as fourth straight revenue drop deepens crisis
Bitcoin miners earned $40 million less in April than in March, marking a fourth straight month of falling revenues since December.
April hits Bitcoin miners again - revenues fall for fourth straight month
Although the decline was not dramatic, it was still a contraction. According to data from Bitcoin Miners, total revenue for Bitcoin miners in April was $1.18 billion, including block subsidies and transaction fees, as aggregated by theblock.co. Of that, fees amounted to $15.65 million. By comparison, revenues in March were $1.22 billion, leaving April with a revenue shortfall of exactly $40 million.
Interestingly, transaction fees increased slightly in April, with on-chain fees in March at $15.11 million. Despite the overall drop in revenue, Bitcoin price is up compared to 30 days ago, and the hash price - the estimated daily earnings for 1PH of SHA256 processing power per second - has also risen.
On April 1, the hash price stood at $46.88, while by May 1, it rose to $50.26. However, miners are facing a strong obstacle: network difficulty. This metric currently stands at a record 123.23 trillion. The average block time is slowing, and it is expected to ease about 5.47% of the pressure at the next difficulty adjustment on May 4, 2025.
For now, the price increase is one of the few favorable factors for miners, and despite the decline in monthly revenue, the reduction is relatively mild. As miners struggle with thinning margins and increased barriers to operation, the market is subtly hinting at a shift in balance. Efficiency is no longer optional - it is a necessity for survival.
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