Updated: 02/01/2021 05:47
Hyip Monitor
bitcoin miners 1 billion in january revenue
Data from The Block showed that Bitcoin miners generated the second-largest revenue in January 2021 According to the information the revenue mostly came
Sponsored Links

Data from The Block showed that Bitcoin miners generated the second-largest revenue in January 2021. According to the information, the revenue mostly came from the network’s block subsidies, which is the amount of BTC reward to miners for block production. At the time of writing, the crypto’s network hashrate is around 150 million terahash per second (TH/s), according to the blockchain explorer,

Bitcoin miners made over $1 billion

In January 2021, Bitcoin miners generated over $1.09 billion, which is the biggest revenue since December 2017. At the time, the miners made more than $1.25 billion, which probably relates to the larger block reward and the increasing price of the cryptocurrency then. Also, the current revenue surpassed the record in January 2018, where BTC miners generated about $1.02 billion. They made a lower revenue in January 2020, around $500 million, according to data from The Block.

The January revenue of Bitcoin miners was largely contributed by the block rewards. They reportedly generated about $977 million of the revenue from the network’s block subsidies, while the rest came from transaction fees. Notably, miners are currently rewarded with 6.25 BTC per block, following the third halving event last year. So, the increase in Bitcoin miners revenue possibly follows the recent spike in the market price of the cryptocurrency, because the block rewards weren’t any more bigger than the years before 2020.

Bitcoin network hashrate

There has been about five million TH/s decline in the network hashrate after the January 17 all-time high (ATH) of 155.4 million TH/s, per Currently, the Bitcoin network hashrate sits around 150 million, which indicates a drop in the number of machines mining the cryptocurrency. There hasn’t been any recent major spike in the network’s mining difficulty, and so, miners are making an increased amount of $0.25 for 1 TH/s.

About the author

Eric Marriam is a young writer. Even though he is not experienced he is able to make really high quality work. Eric is able to identify a problem people have and break it down, able to appeal to emotion through emotive writing, can change style of writing to cater to different audience. Eric Marriam is able to work creatively and effectively with staff and managers and despite his young age, he proved to be a clear and effective writer and speaker, committed to maintaining quality and efficiency, seeking for professional growth and development.
You May Also Like