Bitcoin Miners' July Revenue & Halving Impact: Solo Successes Defy the Odds

A look at Bitcoin miners' July revenue, the impact of the halving, and the surprising resilience of solo miners in a landscape dominated by large pools.

Bitcoin mining: still a thing? Absolutely. Even with the big boys dominating the hashrate, solo miners are snagging blocks. July revenue’s looking interesting post-halving. Let’s dive in.

Solo Miners Punch Above Their Weight

Against all odds, solo Bitcoin miners are proving they're not extinct. Despite the network's hashrate hitting near-record levels (we're talking around 902 exahashes per second!), individual miners are still securing those sweet, sweet block rewards. A recent miner, for instance, nabbed block 907,283 via the Solo CK pool, pocketing over $372,000 in BTC plus an extra $3,436 in transaction fees. Not bad for a day's work, eh?

Halving's Impact: Squeezing the Margins

The 2024 halving event, which chopped block rewards down to 3.125 BTC, has definitely put the squeeze on profit margins. This is accelerating consolidation in the mining market, with the big players getting even bigger. Hashrate is through the roof, but it's concentrated in the hands of a few giants with optimized infrastructure.

Litecoin's Halving: A Glimmer of Hope?

Speaking of halvings, Litecoin recently had its own. On July 31st, Litecoin's halving event reduced mining rewards, potentially creating a supply squeeze. The LTC price is finding support despite market volatility. The postponement of the Litecoin ETF decision adds uncertainty, but traders are cautiously optimistic about future approval.

The Decentralization Narrative

Here's the thing: over 95% of the network's hashrate is controlled by mining pools. Yet, the fact that individuals can still win blocks underscores Bitcoin's open and permissionless nature. Some miners aren't in it for the steady income; they're chasing that one-time, life-changing payout. Foundry USA might command a huge chunk of the hashrate, but the little guy still has a shot.

Tech to the Rescue?

ASICKey's CTO has noticed a