Bitcoin Miners Posted $354M in Revenue Last Week, Breaking Record From 2017

The bitcoin mining company increased its ASIC fleet by 4,000 machines, driving up its hash rate and delivering a record-breaking revenue of $3.8 million.

Bitcoin is rallying again, pushing into new highs above $35,000. Bitcoin is continuing to set new price records, breaking above $35,000 for the first time ever on Jan. 5.After setting its past record of roughly $34,800 on Jan. 3, BTC posted a fast retracement down to $28,000 the following day.However, the crash was short-lived, with BTC quickly recovering, and pressing into new all-time highs above $35,800 around 4.30am (UTC).Bitcoin has now gained roughly 80% since breaking into new highs on Dec. 16, and is up 22% in seven days.BTC/USDT 1H chart, Binance: TradingViewThe new record was....

Bitcoin miners are churning less in revenue, looking at trackers on August 28. According to Hashrate Index data, a platform that tracks the correlation between hash rate and revenue accrued by miners over time, income generated from Bitcoin mining operations is at near record lows. Bitcoin Miner Revenue Declining At $0.059 per Tera Hash (TH) daily, the trend doesn’t look exciting for Bitcoin miners as it is cents away from $0.056, a level recorded in late November 2022. At the depth of last year’s crypto winter when prices fell, cracking below $16,000, hash price, which measures the....

Binance has reported a new record of more than $80 billion in daily volume across its spot and derivatives platforms. Changpeng Zhao, the chief executive of Binance, the world’s largest crypto exchange by trade volume, reported a record of $80 billion in 24-hour trade activity on Jan. 4.On Twitter, CZ compared the recent activity to the volume posted during the last record-breaking bull cycle, noting that the past day of trade equates to four-time the volume processed on the exchange from Nov. 15, 2017 to Dec. 15, 2017.To put this in perspective, from Nov 15, 2017 to Dec 15, 2017, the....

Miners of both Bitcoin and Ethereum are still thriving regardless of the crypto winter. The revenue generated by Ethereum miners surpasses that of Bitcoin miners, according to the 2022 record. The growth of the miners is quite surprising given the increase in the cost of electricity. But all that might come crashing down very soon. There’s growing concern that the upcoming merge will put ETH miners out of their jobs. This can be traced to the effect of the asset’s merge on the operational mechanism of the network. Related Reading: TA – Polkadot Price Shows Strength, Eyes $10....