Bitcoin mining companies have reported their best results since May of the previous year, with a combined revenue of $755 million generated in March of 2023.
The hashrate of the Bitcoin network continues to rise, and so does the difficulty of mining the first cryptocurrency.
Despite these challenges, miners are still able to increase their number of devices and income.
According to Charles Chong, Senior Business Development Manager at Foundry,
“We are seeing a continuous increase in BTC price, accompanied by a significant rise in the Bitcoin hashrate, resulting in lower block times and increased miner revenue in both Bitcoin and USD.”
Since the beginning of the month, the total hashrate of the network has increased by 20%.
Miners received $731.94 million in block rewards and $29.73 million in transaction fees.
Furthermore, there has been a noticeable increase in the total volume of transactions in the network.
In February, the figure was $499 billion, but it increased to $756 billion in March. It has been reported that the difficulty of mining Bitcoin has reached record levels.