Bitcoin Mining Revenue Skyrockets To $33 Million Daily Following China Crackdown
The China crackdown on Bitcoin Miners is now proving to be a blessing in disguise. After two months of the issue, surviving mining firms are now minting huge profits from their operations. The truth is that the incident pushed a lot of miners out of operations. So, the competition reduced, and those still standing are […]
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Bitcoin mining took a big hit when the Chinese authorities commenced a crackdown on crypto mining. This had led to an exodus of miners out of China. Which had been the world’s headquarters of mining at the time. Over 70% of the entire mining in the world is carried out in China before the crackdown […]
Bitcoin miners have had a tough month, with revenue and profitability tanking in May. Hash rates remain high, however. Bitcoin mining revenue and profitability have continued to slide along with the asset's price this year as the crypto winter deepens.May has been one of the worst months for Bitcoin miners in the past year as revenue and profitability continue to tank. Bitcoin daily mining revenue tanked as much as 27% in May, according to data from Ycharts sourcing data from Blockchain.com.On May 1, the analytics provider reported daily revenue of $40.57 million for BTC miners, but by the....
Bitcoin mining companies in the west yield strong returns as China’s crypto mining crackdowns continue. Western Miners Rake In Big Profits During China’s Crackdown As per a report from Arcane Research, China’s crackdown on Bitcoin mining has resulted in more gains for Western miners. Despite the drop in the price of BTC, Western mining companies […]
Miner revenue for bitcoin had taken a hit following the China crackdown. The industry has had a long recovery period as miners had to find new locations to set up their mining operations after their exit from China. Hashrate had dropped and the price had taken a downward turn along with it. Over the past […]
China’s crackdown on Bitcoin mining has led to an increase in clean bitcoin mining operations. Even though trading of cryptocurrencies has been banned in China since 2017, the country still leads the world in crypto mining rigs. Accounting for nearly 70 percent of mining operations in the world. A number that has always worried the […]