We have talked a lot about miners on the Bitcoin Network. After all, they’re one of the core contributors to Bitcoin’s success. The Bitcoin blockchain could not function without all the nodes and miners around the world. This is why the genius economics behind Bitcoin is so important.
Efficient miners are constantly rewarded. During times of bear market Bitcoin prices, the most efficient miners are able to keep their machines on because they’re still able to make a profit. During peak bull market Bitcoin prices they’re able to reap the rewards even while so many new miners enter the ecosystem and drive up competition.
Did you know that you can track the total mining revenue?
At current prices, Bitcoin miners are making over $40 million in revenue per day. It has surpassed the revenues miners were making in the 2017 bull run.
Using Glassnode you can breakdown revenue per each large miner on the Bitcoin Network.
Here is F2Pool who has seen a big jump in revenue and volatility from upward Bitcoin prices.
We can also breakdown revenue into two buckets; fees and block rewards.
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