Topic: [2020-12-6] Bitcoin Miners Saw 48% Revenue Increase in November (Read 117 times)
Looking at the revenue doesn't make much sense. In my opinion, it is better to look at the profit margin. The hash rate has increased, and this means that the miners need to invest more money in to the rigs and cooling systems. Any rise in the overall revenue will be neutralized by higher expenses, and to an extent the increase in taxes (which many of the countries have implemented as a result of the pandemic).
December 07, 2020, 10:59:34 AM
don't really get why they calculate the mining revenue based on per terahash. Although that's not wrong, it just generalizes for all of them (Revenue estimates assume miners sell their BTC immediately.) but doesn't represent the actual earnings number for the miners, many factors affect it, how much they can generate bitcoin in a day? when they will sell it? they have different hash and mining expenses depend on their location due to the electricity and taxes vary in every state.
December 07, 2020, 05:21:45 AM
Bitcoin miners generated an estimated $522 million in revenue in November, up 48% from October, according to on-chain data from Coin Metrics analyzed by CoinDesk.
The sharp revenue increase came as bitcoin soared through November, setting a new all-time high by month’s end after gaining over 40 percent. Monthly aggregate revenue in November hit the highest level since September 2019.
Revenue estimates assume miners sell their BTC immediately.
Read the article @ https://www.coindesk.com/bitcoin-miner-revenue-november-2020
The sharp revenue increase came as bitcoin soared through November, setting a new all-time high by month’s end after gaining over 40 percent. Monthly aggregate revenue in November hit the highest level since September 2019.
Revenue estimates assume miners sell their BTC immediately.
Read the article @ https://www.coindesk.com/bitcoin-miner-revenue-november-2020
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