03.04.2024

Bitcoin miners earned a record $2 billion in March

Bitcoin miners earned huge sums during the first spring month, which was not seen in the previous 12 months. Their rewards for block creation and transfer fees reached a record $2.01 billion, with commissions totaling $85.81 million.

As halving approaches, bitcoin (BTC) miners are seeing a significant increase in their revenues, maximizing their production capacity in an effort to maximize their online rewards.

Recall that the previous peak was observed in May 2021, when bitcoin miners’ profits totaled $1.74 billion.

During March, the price per hash constantly exceeded the $100 mark.

From March 1 to March 31, bitcoin mining pools discovered 4,412 blocks, with 1,312 being generated by Foundry USA. This shows that Foundry accounted for 29.74% of the network’s total hashrate.

Antpool came in second place with 989 blocks, representing 22.42% of the total blocks generated in March. Following Foundry and Antpool are Viabtc, F2pool and Binance Pool respectively. At the moment, 54 mining companies are known to participate in the hashrate network.

The hash rate on the bitcoin network is now holding steady around the 606 exahash per second (Eh/s) mark, having added 20 Eh/s over the past month. The bitcoin hash price, which estimates the daily value of one petahesh per second (Px/s) of mining power, has held above the $100 mark for the month.

On March 1, the price per hash was valued at $103.24; by the end of the month, that figure had risen to $110.39 (Luxor’s hashrateindex.com data). On March 13, this figure registered a brief rise to $120.

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Коля Мельниченко

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