Bitcoin Miner Revenue Jumps to 6 Month High, Mining Difficulty Records 8th Consecutive Increase of 7.85%
Since November 1, the bitcoin mining process has once again increased by 7.85%, this is already the 8th jump since the end of July.
Because of this jump, Bitcoin reached the mark of 20.893 trillion, which corresponds to previous records. The percentage of growth at the moment is about 53%, and this is despite the current bans on mining in China, in contrast to the minimum values of June in the amount of 13.67 trillion dollars.
The speed has also increased, from a minimum in June of 68 thousand/s, the hashing time currently takes about 148.6 thousand/s. There are also jumps, like the May records, to the level of 172.7 thousand/s, and the most recent peak speed was in 197.6 thousand/s.
As a result of all these factors, the mining profit has increased to $ 0.35 per day per tes/s and is currently about $ 0.443. At the time of the introduction of China’s restrictions, these figures fell to $ 0.17, comparable to the results at the end of December. When Bitcoin was worth $65,000 in April, the yield was at $0.45.
Currently, bitcoin is quoted at more than 62 thousand dollars after a jump of 40%, but fell by 7.5% from 67 thousand dollars a year.
Trader Donald gave a positive assessment of the daily price changes, in his opinion, such dynamics only benefits the currency and cannot succeed without falls. Due to the changes, mining revenues for October reached $ 1.72 billion, which is the peak of prices compared to April figures. Due to the prices, not the commission, which in April amounted to $ 247 million, which is 14.8% of all revenue. Since spring, these indicators have not fallen below the August results, so the October growth gives a positive trend (up to 1.62%, $ 27.47 million).
Monthly revenue figures achieved results higher than in September ($1.31 billion) and June ($839 million). The overall picture of the currency’s behavior is changing in a positive direction. Compared to January, where transactions reached 400 thousand dollars, and then dropped to 121 thousand dollars in June, now the currency has begun its active growth.
Like all other indicators, the number of active bitcoin addresses has increased from 600,000 to 900,000, sometimes reaching 1 million. Active addresses reached a new 1.2 million ATH in mid-April, then dropped to just under 475,000 at the end of June.