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Bitcoin Miner Revenue (Patreon)

Published:
2024-09-03 19:21:35
Imported:
2026-06
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Content

Bitcoin miners revenue hit a new low for the year in August.

Miners getting murdered across the board.

I still hold as cost basis is low and do not want to incur taxes yet

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Comments

Jamie

Thankfully I sold CLSK at 20

TunaXonXtoast

Since everyone is selling and sad, should I be buying? Lol

Bobcat

Since these appear to be monthly figures, Sept. may look very low because we're only a couple of days into the month.

rkcrypto

All this doom and gloom is telling me the bottom is close if not in. I added to IREN, CLSK and NVDA which are oversold on the hourly. In fact, CLSK’s RSI on the hourly is 8 which is insanely oversold. Also added to BITF and BTBT. RSI low and my MR script signaled a buy.

Bourbon Broheem
>>148427794

I did the same. Took double my original investment and made 400%. Playing with house money now. Still in profit.

smithers
>>148435186

I am tempted to join you with CLSK. It only sold 2.5 BTC in August and has a lot more hash coming online in the next 2 weeks. Nothing in the August update about share issuance though.

It’s Miggy

I F… UP big time by not getting out at 20 bucks. I guess I’ll have to waited out now. Ugh

William White

MARA produced an amazing 12 blocks on 9/2 for 38.6 Bitcoin (includes small Foundry & payouts) and a 2-day total of 64.7 Bitcoin. Their Hashrate averaged 55.0 EH/s over the past 24 hours. And yet the stock price dropped from $16.50 to $15.25. I see this as a gift. I am buying.

Devotee2Shiva

Thought that this post from Danny Marques (a dude who in my view is a sharp cat that knows the space very well) and might be of interest to the folks in here: “$CLSK daily RSI at 29 for the 11th time in the last 4 years. 6 of those 11 times, the average % return on $CLSK in the months after was: 1) Oct 2020: +517% in 71 days 2) April 2021: +60% in 30 days 3) Aug 2021: +121% in 78 days 4) Nov 2022: +90% in 77 days 5) March 2023: +260% in 126 days 6) Oct 2023: +618% in 176 days Taking an avg of these, one can potentially expect a +277% return in the next 93 days. This coincides with a $CLSK price of $33 by the first week of December Just an observation which will be interesting to follow I'm long $CLSK and #Bitcoin and day to day price action doesn't change my conviction.”

Olé, Olé, Ondré

I'm bying the dip on CLSK. When BTC hit 69k or more, CLSK should go to 15 - 20$ When is BTC good projetc, best miner is good project too.

J

I'm not sure whether to cut my losses and sell RIOT here. The BTC chart looks bad. We are clearly in a downtrend (lower highs & lower lows) and have been down or sideways for six months now. The stock markets don't look great either. Most countries are in a recession, and if the stock markets start dumping, the crypto, and miners, will dump twice as hard.

Jed Riviera

Why are people talking about selling the bottom?