According to statistics, 4,498 blocks have been mined in the last 30 days, creating 28,112 new bitcoins in the last month. The hashrate of the Bitcoin network has been around 341 exhash per second (EH/s) for the last 2,016 blocks or the last two weeks. This month, mining pools Foundry USA and Antpool dominated the pack, accounting for 52.87% of the global hashrate in March.
Bitcoin mining revenue has increased month-over-month since December
Bitcoin miners had a decent month in March with revenue not seen since before June 2022. Over the last 30 days, 4,498 blocks were discovered and Bitcoin miners made $734.78 million in revenue.
Of that value, 28,112 newly minted bitcoins were issued, representing $712.12 million. Statistics from March further show that bitcoin miners earned approximately $22.66 million from transaction fees.
Total March bitcoin mining revenue of $734 million also surpassed February’s $627 million, January’s $601 million and December’s $477 million. Of the 4,498 blocks, the largest mining pool by network hashrate, Foundry USA, discovered 1,468 blocks or 9,175 new bitcoins.
Foundry’s March hashrate percentage was around 32.64%, and at press time, the pool has 105 EH/s hashpower. Antpool found 910 blocks in March, which produced 5,687.50 BTC.
Foundry and Antpool are followed by F2Pool, Binance Pool, Viabtc, BTC.com, Luxor and Brains Pool. Last week, the Bitcoin hashrate reached the 400 EH/s range, and on March 25, 2023, it reached an all-time high of 414.34 EH/s.
With the hashrate so high and block intervals below the ten minute average, the next difficulty change is expected to occur on April 6, 2023. Currently, difficulty change estimates are roughly between 1.20% and 1.38% higher than the current difficulty of 46.84 trillion.
Three years ago, the Bitcoin hashrate surpassed the 100 EH/s range, and today it is 240% higher than that period. At the time, in April 2020, the total revenue earned by Bitcoin miners was $412.42 million, with transaction fees accounting for $6.07 million of the total.
What do you think the future holds for Bitcoin mining, given the current trend in revenue and hash rate? Share your thoughts on this topic in the comments section below.
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