TeraWulf Reports 25% Decrease in Bitcoin Production Post-Halving
CryptoNewsTerminal Staff04 Jun, 2024
TeraWulf Reports 25% Decrease in Bitcoin Production Post-Halving
TeraWulf, a cryptocurrency mining company, has released its production update for May, showing a notable decrease in Bitcoin mined following the halving event. According to The Block, TeraWulf mined 186 BTC in May, reflecting a 25% decline from the 249 BTC mined in April. This decrease is attributed to the halving, which occurred on May 11th, reducing the block reward for miners from 12.5 BTC to 6.25 BTC. Notably, this decline is lower than that reported by other mining companies. For instance, Bitfarms, another major Bitcoin miner, experienced a 42% decrease in Bitcoin mined post-halving. During May, the average price of Bitcoin was $31,239. TeraWulf's production update provides insights into the impact of the halving on Bitcoin mining operations and highlights the challenges faced by miners in the current market conditions.
