Miner revenues are a key gauge for the health of the Bitcoin ecosystem, balancing costs, prices, and difficulties. Since late April, revenues have lagged behind their annual average, hitting a low point in early August. This decline ties closely to Bitcoin’s price dips and the increasing difficulty of mining it. A structural change from the April halving slashed block rewards, squeezing profit margins tighter. But, what does the latest drop in the Puell Multiple reveal about the future of Bitcoin mining and potential buying opportunities? Discover the crucial insights...