Bitcoin Miner Revenue Drops as Riot Sells 10,599 BTC

CryptoQuant's Puell Multiplier fell to 0.89 on November 2, its lowest reading since September 19, indicating declining miner revenue. Riot Platforms sold 10,599 BTC in Q3, reducing its Bitcoin holdings by nearly 79% to 2,418 BTC by September 30. Riot's data center contracts reached $38 billion in long-term revenue, supported by a 15-year, $28 billion agreement with an AI lab. Bitcoin miners are earning less as Bitcoin revenue declines, while Riot Platforms sold 10,599 BTC during the third quarter. CryptoQuant reported that the Puell Multiplier reached 0.89 on November 2, its lowest reading since September 19.

Source: Crypto Front News