Increase in revenue is due to their acquisition of another mining operator and power agreements to fuel those rigs. I am not sure if that should mean anything by itself.
It is still fascinating that several individuals and companies take the risk to go into Bitcoin mining which is a long term commitment once you invest so much. It takes courage and conviction to back a technology in a regulatory environment so full of uncertainties. From the way things have moved in the past few months with Dorsey, Saylor, Musk and others coming out in support of Bitcoin, its clear that USA will once again lead the way in technology adoption.
Additionally, with the Chinese pivoting to CBDCs and kicking out miners, the path for a truly free-market adoption of Bitcoin is clearer. More power to these miners, these individuals and corporations.
Topic: 1,540% increase in revenue from Bitcoin-related activities. (Read 99 times)
Although the bitcoin market has been on a more stable level this week, record has it that this week has witnessed the highest number of confirmed transaction since the history of bitcoin. statistics have it that the record records the highest in transferring bitcoin between account and exchange, so am not surprise by the increase in miners revenue.
Bitcoin mining is one of the most lucrative activities in the Bitcoin network and so many mining firms are already taking advantage of the most technical aspects in Bitcoin and are already making remarkable profits one such Firm is, Riot Blockchain who have come out to announce it quarterly gains and in the 2Q of 2021, the publicly listed bitcoin mining firm have made a record-breaking 1540% increase after setting up an extra mining farm to increase they harsh rates which have resulted in the generation $31.5 million in Bitcoin-related revenue.
https://cointelegraph.com/news/riot-blockchain-reports-1-540-increase-in-quarterly-revenue-from-bitcoin-mining?fbclid=IwAR0-WMv_fF98As2LNt-iy0vS-NtoXe9fU39Da7aCBzgQvPVbUFtgomzz8ho
https://cointelegraph.com/news/riot-blockchain-reports-1-540-increase-in-quarterly-revenue-from-bitcoin-mining?fbclid=IwAR0-WMv_fF98As2LNt-iy0vS-NtoXe9fU39Da7aCBzgQvPVbUFtgomzz8ho
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