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Learning & News => News related to Crypto => Topic started by: waybesuricata on February 14, 2021, 09:21:12 PM

Title: BTC miners pocket $4M in 60 minutes, the highest hourly revenue in Bitcoin's his
Post by: waybesuricata on February 14, 2021, 09:21:12 PM

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 short term.


Source and continuation of the article: https://cointelegraph.com/news/btc-miners-pocket-4m-in-60-minutes-the-highest-hourly-revenue-in-bitcoin-s-history

Title: Re: BTC miners pocket $4M in 60 minutes, the highest hourly revenue in Bitcoin's his
Post by: TomPluz on February 16, 2021, 08:49:20 AM

After the last halving, miners earned just 50% compared to what they can get before but because of the bull run the loss is compensated more than expected. The value of Bitcoin more than quadrupled after the halving, so we can therefore say that Bitcoin mining is now a very lucrative enterprise. I am hoping this can induce more players in the Bitcoin mining industry, that is away from China so that there would be more democratization here. More players, the better it can be for the stability of the Bitcoin network.