Bitcoin mining is finally profitable again, as new data revealed that miners were able to generate €1.09 billion in revenue last month. This is important due to the fact that bitcoin earnings in January reached their highest level since December 2017 before the cryptocurrency bubble crashed later that month. At the same time, bitcoin miner revenue in January 2021 also exceeded the level seen during the same period in 2018, when miners were able to raise €1.02 billion. However, last month and January 2018 did not exceed the monthly revenue of €1.25 billion for bitcoin miners registered in December 2017.
Bitcoin mining
Of the more than €1 billion in revenue generated from Bitcoin mining last month, €977 million came from global network grants. These global grants have risen sharply as the price of the cryptocurrency has risen above €30,000 to a high of €42,000. Bitcoin mining has also become more expensive recently due to a bidding war for the latest ASIC mining rigs, including Bitmain's AntMiner S19 Pro and S19. According to The Block, some customers who pre-ordered the latest ASIC machines due to ship last month have tried to resell them at premiums of at least 75%. The supply shortage, coupled with bitcoin's recent surge, has resulted in an increase in miners' daily revenue for every terahash second (TH/s) of computing power up to €0,25, which has not been seen since mid- of 2019. . If you have an unused Bitcoin mining rig, now might be a good time to turn it back on. through the block