Litecoin miner revenue drops since halving

Litecoin Miner Revenue Declines After Halving

Revenue in major proof-of-work cryptocurrencies

The revenue Litecoin miners are earning steeply dropped after the block reward halving taking place on the 5th of August. The average daily revenue Litecoin miners are earning dropped to $0.6 million from $1.4 million last week. The hash rate for the network also underwent a decline dropping to a low of 358 TH/s on August 7th. It has since recovered to 413 TH/s on August 10th according to data from CoinMetrics. It is logical to observe a decrease in hash rate post halving as inefficient miners are likely struggling to mine enough LTC to meet production costs. The average daily revenue Bitcoin miners are earning increased 6.2% from last week to $22.5 million with a 44% increase observed in fees paid by users to transact on the network.

Litecoin network hash rate

Source: CoinMetrics State of the Network