Bitcoin miners earned record $2b before halving

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Bitcoin miners earned over $2 billion in March, reaching a brand new all-time excessive.

In line with The Block analytics, the earlier all-time excessive was reached in Could 2021, when miners’ complete earnings amounted to $1.7 billion.

Miners’ earnings include rewards for mined blocks and transaction charges on the Bitcoin community. Of the whole income in March, $85.8 million got here from transaction charges, a file month-to-month determine.

Bitcoin miners earned record $2b before halving - 1
Supply: The Block

The chief was the mining pool Foundry USA, which mined 1,312 blocks, 29.74% of the whole blocks within the community. Antpool, with 989 blocks, was second, adopted by Viabtc, F2pool, and Binance Pool.

Nevertheless, with the deliberate discount within the block reward from 6.25 BTC to three.125 BTC in April, the every day quantity of commissions returned to round $2 million. The indicator didn’t present noticeable dynamics within the first days of the month.

In the meantime, Galaxy Digital consultants estimate that roughly 15%- 20% of the whole computing energy of the Bitcoin community can be unprofitable after the halving. In line with the examine, miners will flip off some installations within the face of halving the reward, leaving solely probably the most environment friendly gear in operation.

As well as, consultants have admitted a post-halving outflow of outdated Bitcoin mining gear from the US to areas with decrease power tariffs, resembling Africa.

Patrons are additionally ready to finish the halving to buy mining gear at decrease costs. In March 2022, used S19s price roughly $7,000 and at the moment are valued at $427.

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