17.03.202111:05 Forex Analysis & Reviews: Bitcoin miners' revenue soars to new all-time high of $52.3 million per day

Bitcoin miners set a new record for weekly revenue in just one day. Their combined earnings amounted to $52.3 million, which was an absolute record in history.

Despite the shortage of equipment, BTC miners are still sitting on profits. Even last year's halving failed to affect the attractiveness and profitability of this industry. Notably, when having occurred, the events turned out to be quite nasty for miners: the block reward was cut in half. Thus, it amounted to only 6.25 bitcoins against the previous reward of 12.5 coins.

A recent study of miners' earnings was conducted by analysts at Glassnode. They found out that the crypto miners had to deal with the consequences of halving only in the first months after the slash in the block reward. At that period, BTC miners were able to earn about a thousand coins a day while the transaction fee was less than 10% of revenue.

Recently, the activity and cost of transactions, mainly thanks to cryptocurrency exchanges, is gaining momentum. At the same time, the indicators for network or commission fees are also expected to rise. Currently, they account for 30% of the revenue.

For comparison, last month, commission deductions accounted for about 15% of revenue. Therefore, it is not surprising that in February, bitcoin miners set a new record, breaking above the historical high of December 2017. In just a week, the miners were able to replenish their capital by $354.4 million.

Analysts from Glassnode said that the latest achievement of BRC miners in March was the level of $366.1 million for the week. In the daily equivalent, the new record is even more impressive. Bitcoin miners earned $52.3 million. In the entire history of mining, the daily income has never reached such a high level.