Bitcoin miner income has increased by 185% since the halving, and currently earns $1 million per hour

According to Glassnode estimates, the total revenue of Bitcoin miners year-to-date is $13.8 billion.

According to Glassnode data, since Bitcoin’s halving, miners’ income has increased by 185%, and the current hourly income is $1 million, the highest level since July 2019.

Bitcoin World-Data: Bitcoin miners' income has increased by 185% since the halving, and currently earns $1 million per hour
Bitcoin World-Data: Bitcoin miners' income has increased by 185% since the halving, and currently earns $1 million per hour

This year, the price of Bitcoin continued to rise, and the enthusiasm for investment in the market rose, which in turn led to an increase in activities on the chain, and miners benefited a lot from this. According to data from the Mars Finance APP market channel, since mid-October, Bitcoin has shown a strong upward trend, with the price rising from around $11,000 to above the current $27,000, an increase of over 145%.

As currency prices increase, transaction demand increases, and chain activities are frequent, and the network may be congested. In this case, transaction fees will increase and miners’ income will further increase. Data shows that the current average transaction fee for Bitcoin is $8.4, an increase of more than 1580% from the beginning of the year.

Bitcoin World-Data: Bitcoin miners' income has increased by 185% since the halving, and currently earns $1 million per hour

According to Glassnode estimates, the total revenue of Bitcoin miners year-to-date is $13.8 billion. Last year, the annual income of global bitcoin miners was approximately 5.2 billion U.S. dollars. This means that the income of Bitcoin miners has increased by 2.6 times.

In terms of mining companies, the share prices of some mining companies have also risen to varying degrees. According to Decrypt data, as of December 29, Bitcoin mining company HIVE Blockchain Technologies shares rose 27%. Riot Blockchain, a Colorado-based mining company, rose 22%, while shares of Marathon Patent Group, one of the largest mining companies in the United States, soared 12%.

As of press time, Bitcoin is quoted at US$27,867, up 4.68% in 24 hours.

Source: Mars Finance

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