Advertisement
  • Home
  • Cryptocurrencies News
  • Bitcoin
  • Cardano
  • Dogecoin
  • Ethereum
  • Ripple
  • Litecoin
No Result
View All Result
No Result
View All Result
Home Bitcoin

Bitcoin Mining Revenue Surged 10% In August

September 2, 2022
in Bitcoin
Bitcoin Mining Revenue Surged 10% In August

The first month-to-month acquire since March, bitcoin mining income elevated 10% in August.

Bitcoin Mining Revenue Soars

Approximately $657 million was earned by miners final month, based on statistics gathered by The Block Research.

In the newest replace revealed on Wednesday, the issue of mining bitcoin elevated by 9.26% whereas the hash price elevated by greater than 13%.

According to Kevin Zhang, senior vp of mining technique at Foundry, which manages the Foundry USA mining pool, the rise in hash price is attributable to “a mix of warmth waves lastly subsiding (on a world degree) and amenities slowly coming on-line,” “There’s additionally the added kicker of the upper effectivity Bitmain S19 XP’s lastly hitting the market as nicely!”

Source: The Block Crypto Data.

Only a minor fraction of the pioneer crypto mining income ($9.24 million) got here from transaction charges, with the bulk ($647.72 million) coming from the block reward subsidies. Transaction prices for bitcoin decreased to 1.4% of general income.

Ethereum miners generated $725 million in earnings in August, which is 1.1 occasions greater than bitcoin miners.

Mining Difficulty Surges

The problem of mining bitcoin is rising. According to information from BTC.com, the mining problem for the most important cryptocurrency on the planet elevated by 9.26% in the course of the earlier two weeks.

The web site’s evaluation reveals that the community’s mining problem is at its highest level since January, reaching 30.97 trillion, with the hashrate presently averaging round 230 exahashes per second (EH/s).

Last month, Texas miners stopped working with the intention to help {the electrical} system and save vitality throughout a warmth wave. This motion in all probability made Bitcoin simpler to mine.

Weeks later, they turned again on, and because the degree of problem rises, miners might even see their earnings decline as extra laptop energy (and vitality) is required, however the worth of Bitcoin has remained steady.

Bitcoin

BTC/USD trades at $20k. Source: TradingView

According to TradingView information, the value of BTC was $20,060 on the time of writing. It has been struggling for months to surpass the $25,000 degree and is down greater than 70% from the document excessive of $69,044 it reached in November.

Featured picture from FT and chart from TradingView.com and The Block

ShareTweetShare

Related News

No All-Time High For Bitcoin In 2023, Former BitMEX Head Arthur Hayes Predicts
Bitcoin

No All-Time High For Bitcoin In 2023, Former BitMEX Head Arthur Hayes Predicts

May 29, 2023
Bitcoin Shows Recovery: Did This Historical Line Act As Support Again?
Bitcoin

Bitcoin Shows Recovery: Did This Historical Line Act As Support Again?

May 29, 2023
Bitcoin Core 25.0 Hits The Market: A Sneak Peek Into The Future
Bitcoin

Bitcoin Core 25.0 Hits The Market: A Sneak Peek Into The Future

May 29, 2023
Bitcoin Exchange Inflows Mostly Coming From Loss Holders, Weak Hands Exiting?
Bitcoin

Bitcoin Exchange Inflows Mostly Coming From Loss Holders, Weak Hands Exiting?

May 26, 2023
JPMorgan Predicts Bitcoin (BTC) To Revisit $45,000, Here’s Why
Bitcoin

JPMorgan Predicts Bitcoin (BTC) To Revisit $45,000, Here’s Why

May 26, 2023
Bitcoin And Ethereum Supply Drops To Record Lows Unseen Since 2015 And 2017
Bitcoin

Bitcoin And Ethereum Supply Drops To Record Lows Unseen Since 2015 And 2017

May 25, 2023

Most Read

Mid Cap Crypto Coins Lead In July, Best Way To Weather The Winter?

Mid Cap Crypto Coins Lead In July, Best Way To Weather The Winter?

August 21, 2022
Bitcoin Daily Exchange Net Flows Shows Sell-Offs Have Not Subsided

Bitcoin Daily Exchange Net Flows Shows Sell-Offs Have Not Subsided

August 21, 2022
If Ethereum Falls Below $1,000, Here’s The Next Support

If Ethereum Falls Below $1,000, Here’s The Next Support

August 21, 2022
Block by block: Blockchain know-how is remodeling the actual property market

Block by block: Blockchain know-how is remodeling the actual property market

August 21, 2022
Bitcoin Erases Last Week Gains As Price Sinks Below $20,000

Bitcoin Erases Last Week Gains As Price Sinks Below $20,000

August 21, 2022
  • Home
  • DMCA
  • Terms of Use
  • Privacy Policy
  • Cookie Policy
  • Contact

Copyright © 2022 Randomlemons | All Rights Reserved

No Result
View All Result
  • Home
  • Cryptocurrencies News
  • Bitcoin
  • Cardano
  • Dogecoin
  • Ethereum
  • Ripple
  • Litecoin

Copyright © 2022 Randomlemons | All Rights Reserved