Bitcoin miners made an all-time high revenue of $1.36 billion in February
March 1, 2021, 1:51PM EST
1 min read
Bitcoin mining total revenue surpassed $1.36 billion in February, according to data from The Block. That breaks the previous all-time high reached in December of 2017.
A small portion of February’s total mining revenue — $186.4 million, or 13.7% — came from the transaction fees. The remaining $1.18 billion came from the network’s block subsidies, accruing in value as bitcoin broke $50,000 in price and $1 trillion in market capitalization for the first time in February.
Total mining revenue grew 21.4% from January’s $1.12 billion.
While equipment for Bitcoin mining experienced shortages in December, some mining infrastructure providers have recently announced their intention to expand operations. Compute North announced on February 12 that it raised $25 million to grow its team and facilities. And China-based Bitcoin mining firm Poolin announced it acquired its rival NovaBlock’s hashrate, which Poolin will use to expand across North America.
Swash is one solution empowering people, businesses, and developers through an ecosystem of tools and services designed to unlock the latent value of data by pooling, securely sharing, and monetising its value
The Block Research was commissioned by Forte to create “Blockchain-Based Gaming: A Primer” which provides a comprehensive introduction to how blockchain technology is being employed in video gaming experiences.