Ken Chigbo
Independent Analyst
- Bitcoin mining revenue hits another milestone of $14 billion, as per latest report.
- Despite large increases in the Bitcoin network hash rate, profitability still remains strong.
The revenues all-time for Bitcoin (BTC) miners has exceeded $14 billion, according to the latest data from Coin Metrics.
Recently it was reported by Yahoo Finance that despite the large increase in the Bitcoin network’s hash rate, something of which depresses the profitability of mining, there still appears to be much reward for miners.
The report details that as of the Bitcoin network’s inception, it had taken eight years for miners’ total revenue to break past the milestone $5 billion mark; the next $5 billion was exponentially faster, to then only take further eight months for revenue to break $10 billion.
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