Bitcoin miners make $40m per day

Bitcoin's (BTC) operational results from mining have recovered to $40m daily, following a tumble in May amid new anti-mining measures in China.

Mining is a complicated and increasingly difficult process due to the competition on the blockchain. With each new block discovered, BTC becomes tougher to figure out but thousands of computers with specialized software continue trying to be the first uncovering the block.

The recent data from blockchain analytics firm Glassnode, reveals a rally but is still far from the $60m Bitcoin miners were generating before the May ban.

While the process of mining BTC has become far more complicated due to competition and the availability of many blocks now, such operations continue to generate strong revenue.

However, in light of increasing mining revenue and growing difficulty, such businesses are investing more heavily into infrastructure to support their operations, meaning that a substantial chunk of their revenue goes on covering costs and maintenance.

The thinking goes that while BTC is a finite currency with fixed stock supply, its value may continue to increase, allowing it to reach a point where all those mining processes will make even more financial sense to maintain..

Presently, BTC is once again pushing for $50,000 in terms of value, and has been fairly stable, underpinned by hefty institutional investments over the past years.

In the first half of 2021, there has been around $17bn of institutional investment going into blockchain, crypto, DeFi, NFTs and other digital assets.

As miners continue to reap benefits so can you by visiting Bitcasino, 1xBit or FortuneJack.

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Written by Barney

Co-founder

Barney is co-founder of CryptoGamblingNews.com. When not at work he can usually be found behind a Nikon. He's won numerous international competitions for his photography and volunteers as a content creator for aid organisations in Africa.

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