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Glassnode: Bitcoin Mining Makes Revenue About $33 Million per Day

08 January 2021 15:02, UTC
Denis Goncharenko

Rafael Schulze-Kraft, CTO of the research company Glassnode, said that Bitcoin mining revenue currently stands at approximately $33 million per day — a figure that has not been seen since 2017.

On December 16, 2020, the total revenue from BTC mining was $17M, which means that the figure has increased by more than 90% since Christmas and New Year. However, this surge is not unprecedented. On December 18, 2017, the total revenue from Bitcoin mining was just under $50 million. This spike in earnings was achieved just a month after revenues were about $17 M, as in the current case.

Despite this, even in light of the rise in the price of bitcoin, the ongoing battle of miners for more powerful hardware sets an ever higher barrier to entry into the industry. Such an approach leaves little options for smaller players.

Image courtesy of QZ com