Glassnode- On-Chain Data and Intelligence Platform has said that Bitcoin miners globally are presently earning twenty-four million dollars per day.
According to Glassnode, the development portends 185% increment since the halving happened in mid-May when the bitcoin network cut the number of Bitcoin that miners earn for processing transactions in half.
The statistics further revealed that the Bitcoin yield was the highest levels of profit since 2019.
The last time miner’s revenue was hovering around such highs was in July 2019, stated Glassnode, adding that “block rewards were twice as high than today.”
READ ALSO: Bitcoin Price Rises To $28,600 After Expert Urged Investors To Sell Last Wednesday
The figures are impressive but not surprising at all, considering that 2020 has been characterized by a pandemic that hit the world and, consequently, the markets.
However, the recent crypto bull-run, especially with bitcoin skyrocketing to all-time highs above the $28,000 threshold, helps increase the activity on the Bitcoin blockchain, which is something that miners take advantage of.
Overall, Glassnode estimates BTC miners’ total revenue stands at $13 billion, making it a heavy-weight industry within the crypto sphere and an attractive one for businesses looking to invest in the crypto mining industry.
Bitcoin.com
