In March, Bitcoin miners' revenue reached $2 billion, setting a new record high

According to "Unchained," as the Bitcoin halving event approaches, Bitcoin miners' monthly revenue has reached its highest level. However, miners may be preparing for reduced profits and operating in a more challenging economic environment.

Data from "The Block" shows that Bitcoin miners' total revenue in March was $2.01 billion, surpassing the record set in May 2021. Last month, the U.S.-based Bitcoin mining pool Foundry mined the most Bitcoin blocks, totaling 1,300 blocks, accounting for 29.4% of the total mined that month. AntPool ranked second, mining 997 blocks, representing 22.41% of the total.

The Bitcoin mining reward will decrease from 6.25 BTC to 3.125 BTC after the halving event, potentially halving miners' profit margins unless the Bitcoin price significantly increases.

According to the development trajectory of past market cycles, the Bitcoin price usually rises several weeks after halving occurs. International law firm Holland & Knight pointed out that financially strained miners may truly begin to face pressure, and the industry may witness some strategic mergers among mining companies.

This article is from zombit:https://zombit.info/btc-miners-record-2b-monthly-revenue/

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2024/4/8