Bitcoin

April

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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-miners-see-record-earnings-as-prices-soar/" data-wpel-link="internal">Bitcoin Miners See Record Earnings as Prices Soar</a><br></p>
<p style="text-align: justify"><strong><a href="https://coin-turk.com/dunyaca-unlu-profesor-bitcoin-yukselisi-icin-tarih-verdi-hazir-olun" data-wpel-link="internal">Bitcoin</a> (<a href="https://coin-turk.com/abd-enflasyon-verileri-aciklandi-kripto-para-piyasasi-nasil-etkilenecek" data-wpel-link="internal">BTC</a>)</strong> prices have soared to all-time highs, and during the same period, <a href="https://en.coin-turk.com/bitcoin-analyst-warns-of-potential-correction-altcoins-at-risk/" data-wpel-link="internal">Bitcoin</a> miners have reaped record earnings. According to on-chain data, Bitcoin miners’ daily income has reached a new record level since April 2021.</p> 
<h2 id="bitcoin-miner-revenues">Bitcoin Miner Revenues</h2> 
<p style="text-align: justify"><strong>CryptoQuant</strong> data indicates that daily miner revenue surged to $78.6 million on March 7, surpassing the peak reached during the last crypto bull market in April 2021. Bitcoin miners earn income from newly minted coins and fees paid for verifying transactions on the <strong>blockchain</strong>. This increase in miner revenue coincides with Bitcoin’s 70% rally this year. The cryptocurrency reached nearly $72,881 on Monday, a record level, and traded at $72,668 on Tuesday.</p> 
<p style="text-align: justify">As Bitcoin’s revenue increases, so does its energy consumption. According to the latest report, Bitcoin miners reached record levels of energy consumption last month. This increase in mining activity occurred simultaneously with a supply shock and contributed to Bitcoin’s sustained and rising prices. <strong>Coin Metrics</strong> estimates that miners consumed a record 19.6 gigawatts of energy last month, a significant increase from the 12.1 gigawatts recorded in the same period of 2023, marking an increase of over 61%.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-326134 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/bitcoinn-1.jpg" alt="" width="1325" height="632"></p> 
<h2 id="bitcoin-miner-reserves">Bitcoin Miner Reserves</h2> 
<p style="text-align: justify">On the other hand, Bitcoin miner treasuries have collectively decreased by 14,128 <a href="https://en.coin-turk.com/bitcoins-bullish-rise-over-1000-btc-address-becomes-active-after-13-years/" data-wpel-link="internal">BTC</a> (equivalent to $1 billion) since the beginning of the year. Recent data shows that most days of the past month witnessed net outflows from BTC miners. Despite this trend, miners continue to hold a significant amount of Bitcoin, valued at $131 billion, which amounts to 1.82 million <strong>BTC</strong>. This points to the highest value recorded in US dollars.</p> 
<p style="text-align: justify">The actions of Bitcoin miners contrast with those of ETFs, as institutional investors are selling off Bitcoin holdings on behalf of ETF shareholders. This development could indicate a notable change from the challenging conditions of the crypto winter, which led some to face bankruptcy.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-miners-see-record-earnings-as-prices-soar/" data-wpel-link="internal">Bitcoin Miners See Record Earnings as Prices Soar</a></h5>

Bitcoin Miners See Record Earnings as Prices Soar

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