Bitcoin miners rake in more than $1.5 billion in March
News

Bitcoin miners rake in more than $1.5 billion in March

Saudu Clement
Saudu Clement

Bitcoin mining is as profitable as it can get as miners earn more than $1.5 billion in March, The Block Research reports.

The leading research, analysis, and crypto news brand noted that the figure represents the most earnings from crypto mining activities in a single month. Given that there are still a few days left in March, the final figure will exceed the current $1.51 billion.

According to the report, most of the earnings were in the form of per-block subsidies, or the 6.25 BTC block reward gotten from the creation of new blocks. Miners also earned $148 million from transaction fees.

Source: The Block

Comparatively, the figure in March surpasses that of the previous month by $150 million. In February, miners earned a total of $1.36 billion. Amid Bitcoin’s rising popularity, miners have steadily raked in over a billion dollars for the past three months.

BTC PEERS has earlier reported that Bitcoin miner revenue rose to a new single-day high of $52.3 million.

Meanwhile, crypto data firm Glassnode had earlier said that high miner revenue is “positive for the assurance of continued security for the Bitcoin protocol.”