Cryptocurrency miners have increased their profits from bitcoin by 45% since the beginning of the year

According to analytical trackers, bitcoin miners' profits grew by 45% in January 2023 compared to the previous month. Industry experts recorded a profitability index of $ 23 million.

Experts believe that the increase in miners' profits is due to the rise in the value of the flagship cryptocurrency. BTC $56,661.23 Bitcoin -2.76% Market capitalization $1.12 trillion VOL. 24 hours $4.56 billion rose by 39.4% over the last 30 days of the new year. BTC miners have managed to increase their revenues through mining rewards and transaction fees. Due to the growing interest in the market’s flagship, the number and volume of BTC transactions have increased significantly.

Industry researchers noted: on December 28, 2022, the profit from BTC mining fell to $ 13.6 million, the first time since October 2020. At that time, major mining companies sold 40,300 of the 40,700 bitcoins minted in 2022. Among them are Core Scientific, Argo, Marathon, Iris Energy, Bitfarms, and Riots. Miners' cryptocurrency stocks declined the most in the second half of November 2022, as the cryptocurrency industry suffered significant losses after the FTX exchange went bankrupt.

It is worth noting that today it became known that the complexity of bitcoin mining has updated its historical maximum, having reached 39.35 Tx/s. The indicator grew by 4.68% after the next recalculation of the complexity. The average 7-day hashrate of the network is at 291 EH/s.