Bitcoin Miners’ November Revenue Peaks at $1.16 Billion, Setting 2023 Record

Bitcoin Miners' November Revenue Peaks at $1.16 Billion, Setting 2023 Record

November marked a big milestone within the 2023 income generated by bitcoin miners, reaching a peak of $1.16 billion. This month not solely stood out when it comes to whole earnings but in addition set a document for the very best month-to-month charges collected by miners throughout the 12 months.

Bitcoin Mining Fees Soar to Yearly High in November, Fueling Revenue

In November, bitcoin (BTC) miners skilled a affluent interval, bolstered by elevated costs and a considerable uptick in switch charges. Data reveals that miners amassed a complete income of $1.16 billion, with charges contributing $142.19 million to this sum.

This efficiency eclipsed the previous zenith reached in May 2023, the place whole earnings have been $919.22 million, inclusive of $125.92 million in charges. From May to November 2023, bitcoin miners skilled a fluctuation in earnings, with charges escalating from about $17 million to a peak of $38 million in June.

The whole income in November surpassed May’s figures by roughly 26.19%. Yet, the hash value, outlined because the income generated per petahash per second (PH/s) every day, was extra favorable in early May in comparison with November’s peak values.

On May 8, 2023, data revealed {that a} single PH/s of hashpower was valued at $124.17. Contrastingly, the apex worth in November, recorded on the 18th, was barely decrease at $96.36 per PH/s.

November witnessed a marginal improve in bitcoin (BTC) transaction processing over May, with 16.42 million transactions in November barely edging out May’s rely of 16.3 million. Furthermore, Bitcoin’s onchain each day quantity in USD phrases reached notable heights previously month, although it fell wanting the 12 months’s highest peak, which occurred on October 29, 2023.

What do you consider miners recording the very best income month in 2023 in November? Share your ideas and opinions about this topic within the feedback part under.

Add a Comment

Your email address will not be published. Required fields are marked *