Bitcoin Miners Made $1.36 Billion in February, Setting New Record

According to data collected by Coin Metrics, Bitcoin miners raked in a total revenue of $1.36 billion in February, setting a new record and breaking the previous one from back in 2018. In comparison to the mining revenue in January, this was an increase of 21% despite the month having fewer days. (greenroom-oc)


About 13.7% of the revenue in Feb (~$186.4 million) came from the Bitcoin transaction fee while the remaining $1.18 billion was the result of mining cryptocurrency within the blockchain network. The increase in the value of Bitcoin, to over $50,000 for the first time in history for a single coin also contributed to the mammoth increase in miners’ revenue. Although both Ether and Bitcoin saw a sharp drop after reaching record prices, most of the losses have now been recovered with Bitcoin now trading at $48,600 per coin.

With graphics card providers seeing massive shortages, ASIC (mining gear) providers have started expanding their production to feed the insatiable demand from miners. Compute North, a popular provider is planning to invest $25 million to increase its production facilities. Similarly, the Chinese Bitcoin mining company Poolin has announced the purchase of the hash rate of its rival NovaBlock.



Computer hardware enthusiast, PC gamer, and almost an engineer. Former co-founder of Techquila (2017-2019), a fairly successful tech outlet. Been working on Hardware Times since 2019, an outlet dedicated to computer hardware and its applications.
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