Bitcoin miner revenue surges to pre-halving levels

Bitcoin miner revenue surges to pre-halving levels

Miners are likely starting to sell some BTC at this point. As the Bitcoin (BTC) price is reaching the highest levels since January 2018, Bitcoin mining is getting more profitable due to a number of factors.According to data from Blockchain.com, BTC miners revenue has soared to levels not seen since Bitcoin’s third halving in May 2020 that reduced the miner block reward from 12.5 BTC to 6.25 BTC.As such, BTC miners’ revenue hit $20.8 million on Nov. 4. According to Blockchain.com, the highest point recorded since September 2019, when miners’ block reward was twice as much as now.BTC miners....


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Bitcoin mining revenue hits yearly high, after return to pre-halving levels

Bitcoin mining revenue has topped $20 million per day, its highest level this year. Key on-chain metrics such as Bitcoin mining revenues have returned to pre-halving levels according to recent research.Data from analytics provider, Glassnode, suggests that revenue from Bitcoin mining is now back at the same levels it was as when block rewards were double what they are now.When the halving took place in mid-May, BTC prices were around $9,000. On November 18 they had doubled to $18,000 which suggests a correlation as miners need to sell enough of the asset to cover their expenses while....

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BTC miners pocket $4M in 60 minutes, the highest hourly revenue in Bitcoin's ...

Bitcoin mining fundamentals are growing stronger as miners are making a killing from higher BTC price According to data from Glassnode, Bitcoin (BTC) miners made over $4 million in just under an hour on Feb.  12, making it the biggest hourly revenue in history.In May 2020, Bitcoin underwent the third block reward halving in its history, cutting the amount of new Bitcoin mined in half.After a block reward halving, the amount of BTC miners can mine using computing power decreases by half. Hence, miner revenues decrease by 50% overnight, which could cause strain on mining operations in the....