Bitcoin miner revenue jumps by 50% in 4 days since record difficulty drop

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Bitcoin miner revenue jumps by 50% in 4 days since record difficulty drop


Bitcoin (BTC) miner revenue jumped after the network saw its biggest-ever difficulty drop, data shows.

According to figures from monitoring resource Blockchain.com, daily revenues have surged by over 50%.

“Interesting dynamic” hits Bitcoin mining
Bitcoin mining is currently in a unique state of flux — around half of the hashing power is offline as miners relocate from China, and it remains unknown how quickly they will be able to come back online.

At the same time, those miners unaffected by the Chinese rout have seen half their competitors disappear overnight, and profitability has gone up as a result.

With data now coming in for the past few weeks, the scale of the changes is plain to see. Daily mining revenue was around $20.7 million on Friday, the day before the difficulty adjustment. A day later, it hit $29.3 million, and by Tuesday this week — $31.9 million.



https://cointelegraph.com/news/bitcoin-miner-revenue-jumps-by-50-in-4-days-since-record-difficulty-drop