Bitcoin Mining Revenue Up 20% in March

Bitcoin Mining Revenue Up 20% in March

Bitcoin miners generated $755 million in revenue in March.

According to data from The Block Research, bitcoin miners recorded quite good revenue in March. Specifically, bitcoin miners brought in a total of $755.4 million in revenue, most of it. of these are in the form of block rewards.

Each bitcoin transaction block rewards miners with 6.25 BTC plus transaction fees. Transaction fee revenue was $23.4 million in March.

March figures are about 20% higher than February’s $613.15 million in sales.

bitcoin mining revenue

The revenue of bitcoin miners fell sharply in November and December last year, only about $ 470 million because of that time the market was weak and investor sentiment was quite negative after a series of news. bankruptcy of crypto companies.

Turnover tends to increase in recent months as bitcoin breaks $29,000 and National Bureau of Economic Research (NBER) claims that owning a cryptocurrency mining company can act as a means of risk management in the power industry.

Nasdaq-listed Bitcoin miner TeraWulf, which started operations in March last year, reported a 146% increase in revenue in the fourth quarter of last year from the previous quarter thanks to the expansion of its mining capacity in the US.

Bitcoin is trading at around $28,000 at press time. Compared to 7 days ago, this coin has increased by about 1,000 USD in price.

See also: Bitcoin mining company TeraWulf reports 146% revenue growth

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