CryptoQuant data shows that miners' daily earnings have fallen 75% to $26.50 million since the April halving. The transaction fees earned by miners have fallen to 3.7% of total revenue after jumping to a high of 75% earlier that month. Le Shi, head of trading at market-making and algorithmic trading firm Auros, said the $51,000-52,000 range is crucial because many bitcoin miners are reaching the break-even point of profitable mining.