The leading cryptocurrency Bitcoin had a difficult year with the sharp drops in 2022.
The year 2022 was not only difficult for BTC, as Bitcoin miners also suffered a significant decrease in their revenues due to falling prices.
However, Bitcoin, which made a good start to 2023, has gained approximately 60% in value since the beginning of January.
Parallel to this rise in BTC, there was an increase in the income of miners.
So much so that, according to The Block, the revenues of Bitocin miners reached the peak of the last 10 months in March.
According to data from The Block Research, Bitcoin miners have earned at least $718 million so far in March 2023.
Commenting on this, Charles Chong, senior manager of cryptocurrency mining company Foundry, said:
“We have seen a more meaningful increase in hashrate this month, with the Bitcoin price increasing.
This has accelerated block times and resulted in greater earnings for the mining industry as a whole, both in BTC and USD.”
Again, according to data from The Block Research, Hashrate has also increased by about 20% since the beginning of March.
*Not investment advice.