01/09/19 06:30 UTC-4

Bitcoin miners earned $14 billion

MiningMiners earn billions of dollars
Miners earn billions of dollars

Over the 10 years of the existence of cryptocurrencies, bitcoin miners have earned $14 billion. And in 2020, their earnings will exceed $15 billion.

 

Miners earned $14 billion in revenue over 10 years

Yahoo! Finance, citing Coin Metrics data, reports that miners miningMining
– is a type of activity for creating new blocks in the Blockchain to ensure proper system operation. Details
BTC have received $14 billion in revenue over the past 10 years. And this, for example, is more than the nominal GDP of the whole of Mongolia ($3.03 billion for 2018).

And 2018 was the most profitable for them. If in 8 years the total income of BTC miners amounted to only $5 billion, then in 8 months of 2018 their profit doubled, reaching $10 billion.

According to Coin Metrics, miners' profits will break the $15 billion mark at the beginning of 2020.

 

  • Bitcoin mining is becoming more and more popular. This partially confirms the dynamics of hashrates – the capacities necessary for mining. According to BlockchainBlockchain
    is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details
    .com data as of January 1, 2018, the total number of hashrates in the system was at the level of 14.9 terahashes. As of August 30, this figure rose to 83 terahashes.
  • Such growth ensured the entry of new miners into the market, as well as the development of mining equipment
  • Mining is so popular that sometimes crypto businessmen are willing to commit a crime in orderOrder
    – automatic application to buy or sell cryptocurrency. Orders are used during trading on the stock exchange to open and close a position. Details
    to get cryptocurrency without paying for electricity. For example, in mid-August, the Security Service of Ukraine stopped illegal mining at the country's nuclear power plants 


 

Editor: Alex Riabukha

See also: "Amazon engineer will go to jail for 20 years for illegal cryptocurrency mining"

#Mining #BTC #Bitcoin #Mining #Cryptocurrencies #MiningProfitability

Comments

Similar

05/08/19 06:16 UTC-4

The mined cryptocurrency can now be displayed on the Coinbase exchange

​NiceHash cryptocurrency mining service announced the opening of ways to transfer cryptocurrency directly to the Coinbase crypto-exchange. According to the information, now users of cloud mining will be able to exchange the received coins without using a personal wallet.

03/07/19 07:00 UTC-4

Argo Blockchain: mining profitability increased by 24%

​Yesterday, July 2, a mining company from Britain, Argo Blockchain, published a report for the second fiscal quarter of 2019. According to the report, the profitability from the acquisition of cryptocurrency increased by 24% in just one month.