Bitcoin Mining Revenues Rebound to $3.7 Billion in Q4 2024, Approaching Q1 2025 Levels

Bitcoin mining revenues saw a significant rebound, reaching $3.7 billion in the fourth quarter of 2024, according to Coin Metrics data. This represents a 42% increase from the previous quarter and is approaching the $3.6 billion mark seen in Q1 2025. This uptick suggests that miners' incomes are stabilizing after the Bitcoin network's halving in April 2024, which reduced mining rewards from 6.25 BTC to 3.125 BTC per block. Despite the positive trend, potential trade wars and semiconductor tariffs could pose challenges, potentially increasing costs and consolidating power among major players, according to Ben Yorke, VP of Ecosystem at WOO. Miners are adapting by upgrading to more energy-efficient ASICs and relocating to regions with cheaper renewable energy. Some are also diversifying into AI data-center hosting to expand revenue.