Bitcoin (BTC) miners generated $916.6M in May, confirming industry profitability

Bitcoin (BTC) miners generated $916.6M in May, confirming industry profitability
фото показано с : invezz.com

2023-6-5 09:51

While the cryptocurrency market saw the usual ups and downs in May, Bitcoin (BTC) mining computers enjoyed a substantial earnings uptick over the past month. A 13.7% earnings surge saw these miners generating $916.6 million in revenue. Meanwhile, the month-over-month (MoM) growth highlights the profitability and continued growth of the BTC mining business.

🟠 Global #Bitcoin mining computers earned $916.6 million from block rewards in May, a 13.7% month-over-month increase. pic.twitter.com/Nvk1pvNtOu

— Ordinal News 🟠 (@Ordinal_News) June 3, 2023

Bitcoin miners primarily generate revenue from block rewards – granted after transaction validation and ensuring platform safety. In that context, the increase in earnings indicates Bitcoin mining profitability. That draws more miners to the blockchain, heightening its security.

Bitcoin mining still a lucrative business

The significant surge in earnings shows Bitcoin mining remained lucrative. More individuals joining the network as miners contribute to additional computational power, increasing mining revenue. Furthermore, the earnings surge confirms the Bitcoin blockchain’s resilience and healthiness.

Remember when China banned mining & all the low IQ/EQ people told it was the end of Bitcoin?

Recently at block height 792,288 – bitcoin mining difficulty reached a record high of 50,000,000,000,000 hashes.

More computers are mining $BTC than ever before. pic.twitter.com/U8b6oQkJlI

— Save Invest Repeat 📈 (@InvestRepeat) June 4, 2023

Bitcoin mining remains crucial in ensuring the integrity and security of the blockchain. Meanwhile, miners receive rewards as incentives to ensure decentralization and continued operation of the BTC platform. Revenue increases attract global miners, further strengthening the mining industry.

Also, an uptick in Bitcoin mining revenue shows increased adoption and interest in digital assets. As the bellwether crypto sees acceptance and recognition by the masses, mining resources see surged demand, heightening rewards for the miners.

Moreover, renowned mining firms continue to expand their businesses. Recently, CleanSpark company purchased 12,500 Bitmain machines. It capitalized on discounted prices to get the equipment for $40.5 million. Nonetheless, that presented Bitcoin mining as a lucrative business despite price-wise struggles.

The post Bitcoin (BTC) miners generated $916.6M in May, confirming industry profitability appeared first on Invezz.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 69645 (-0.27%)
Объем 24H $39.884b
Изменеия 24h: -2.06 %, 7d: 12.37 %
Cегодня L: $69321.3 - H: $70311.19
Капитализация $1372.124b Rank 1
Цена в час новости $ 27245.01 (155.62%)

earnings bitcoin saw may 916 btc miners

Источник: invezz.com

earnings bitcoin → Результатов: 126


MicroStrategy’s Michael Saylor Discloses Personal Bitcoin Investment

MicroStrategy CEO Michael Saylor, on the heels of the company’s stunning third-quarter earnings report, has revealed more about his commitment to bitcoin. In a tweet, Saylor unveiled his personal bitcoin holdings, saying that he is “hodling” more than 17,730 BTC, which based on the latest price, he got for a bargain at $9,882 each on […] The post MicroStrategy’s Michael Saylor Discloses Personal Bitcoin Investment appeared first on BeInCrypto.

2020-10-28 18:00


5 Top Crypto Twitter Traders Are Bullish on Bitcoin Right Now

As Bitcoin (BTC) enters another bull-and-bear fight, ranging between $7,800 and $8,000, crypto Twitter traders are warming up to a bullish attitude. Leading Twitter Accounts See Potential for Bitcoin Earnings on Bullish Moves Leading social media names have returned with a bullish attitude to bitcoin price moves, as the coin is now battling out new support levels.

2020-1-11 04:00


Фото:

How to Navigate the Minefield of Cryptocurrency Taxation

National tax agencies have recently made it clear that the long arms of the law will be wielded to ensure bitcoiners pay the appropriate tax on their earnings. Motivated by surging interest in crypto, authorities are cracking the whip and instilling fear in those who have, until now, dismissed the notion that they might be […] The post How to Navigate the Minefield of Cryptocurrency Taxation appeared first on Bitcoin News.

2019-11-23 02:00


Meteoric Bitcoin Rally Won’t Rescue Nvidia’s Flailing Stock

By CCN: Nvidia previously blamed its negative earnings report on “crypto winter,” the vaunted extended bear market which Bitcoin appears to have finally exited. The incredible rally of the past couple weeks means many industries related to crypto will see increased demand and valuation – everything from mining to software development will be in fashion again.

2019-5-17 20:39


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru