Bitcoin miners made more than $1 billion in January revenue
January 31, 2021, 10:17PM EST
1 min read
Bitcoin miners made more than $1.09 billion in January revenue, which is the highest point since December 2017, The Block's Dashboard data shows.
The revenue for bitcoin miners last month has surpassed the level seen in January 2018, which was at $1.02 billion. The highest monthly revenue for bitcoin miners was recorded in December 2017 with over $1.25 billion at the peak of the last market bull run.
Of the $1 billion revenue last month, $977 million came from the network's block subsidies, the value of which increased sharply compared to December 2020 as bitcoin's price jumped above $30,000 and reached as high as $42,000.
Meanwhile, bitcoin's mining difficulty growth has been relatively more static given the supply shortage of the newest mining equipment.
As a result, bitcoin miner' daily revenue per each terahash second (TH/s) of computing power has also increased in January to as much as $0.25, a level not seen since mid-2019.