Monday, May 29, 2023

Over the last 30 days, around 4498 blocks were mined creating 28112 new bitcoins. The network hashrate (the speed at which the blocks are mined) has been 341 exahash per second for the past two weeks. In March, two mining pools Called Foundry USA and Antpool made up 52.87% of all the global hashrate.

Bitcoin Mining Reaches New Highs with Record breaking Revenues and Hashrate in March 2023!

Bitcoin miners had a great month in March by bringing back revenues that haven’t been seen since June 2022. During the last 30 days, 4,498 blocks were discovered and bitcoin miners received $734.78 million of income. The top five mining pools by hashrate size in this month were also listed. 28,112 new bitcoins were made and it’s value is estimated to be $712.12 million while around $22.66 million was generated from transaction fees.

February, January and December all weren’t as profitable for bitcoin miners as March. In the month of March, a total of 734 million dollars was made from mining bitcoin. A large number of 4,498 blocks were mined around that time, out of which Foundry USA, the largest mining pool according to network hashrate found 1,468 blocks or 9175 new bitcoins.

Foundry has 32.64% of the total hashrate and at the moment, it’s got 105 EH/s (hashpower). During March, Antpool found 910 blocks and 5,687.50 BTC was produced as a result. These two mining pools are followed by F2Pool, Binance Pool, Viabtc,, Luxor, and Braiins Pool. Last week Bitcoin’s hashrate reached up to 400 EH/s and on March 25th 2023 it peaked with an all-time record of 414.34 EH/s.

The blockchain network is running very quickly and the blocks are being created faster than the normal ten-minute average. On April 6, 2023, it’s expected that the difficulty setting will go up by somewhere between 1.20% and 1.38%. This means it will be harder to make new blocks – right now, the difficulty is set at 46.84 trillion.

Three years ago, Bitcoin mining became more powerful than ever with its hashrate exceeding 100 EH/s. Today, it has grown to be almost 3 times as powerful! In April of 2020, the total income for Bitcoin miners was $412.42 million, and $6.07 million of that money came from transaction fees.

What is the future of cryptocurrency mining? Will it continue to bring in more money and become even more powerful? What do you think about this topic? Share your opinion in the comments below!


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