Bitcoin mining broke another record in March

Crypto industry analysts note that in March, bitcoin miners reached an unprecedented $ 2.01 billion in revenue, thanks to rewards for mining blocks and fees for transferring the first cryptocurrency BTC $90,571.33 Bitcoin -0.69% Market capitalization $1.79 trillion VOL. 24 hours $2.11 billion . The previous record of $ 1.74 billion was set in May 2021. Out of the $ 2 billion earned in March 2024, approximately $ 85 million came from transaction fees, and $ 1.93 billion from block fees.

A total of 4412 blocks were mined by miners. The first place was taken by Foundry USA, whose devices mined 1312 blocks. Foundry also accounted for about 30% of total bitcoin sales. The second place went to Antpool, which mined 989 blocks, which corresponds to about 23% of the total number of blocks mined worldwide in March. The top five is rounded out by Viabtc, F2pool, and Binance Pool.

However, despite the high achievements, the crypto community is increasingly raising the issue of the harmfulness of mining. As a reminder, Iceland wants to force out cryptocurrency miners because they consume too much of the country’s green energy.

Earlier, Joe Biden’s administration made a controversial proposal to tax bitcoin and other cryptocurrencies for miners who use powerful computers to protect cryptocurrency networks and verify transactions.

«Any firm that uses computing resources, whether owned or leased from others, to mine digital assets would be subject to an excise tax of 30% on the value of the electricity used to mine digital assets,» the US Treasury Department’s revenue proposal for 2025 reads.