Bitcoin miners earned record $2 billion in March

Miners of the first cryptocurrency earned over $2 billion in March. The indicator reached a new historical maximum.

The volume of commissions in revenue amounted to $85.81 million. Back in December, the value exceeded $337 million amid another boom around Ordinals.

Some experts like Blockstream CEO Adam Back said that rising network fees will act as an incentive for miners amid the upcoming halving in April.

However, with the planned reduction in the block reward from 6.25 BTC to 3.125 BTC in April, the daily volume of commissions returned to around $2 million. In the first days of the month, the indicator did not show noticeable dynamics.

According to Galaxy Digital experts, approximately 15-20% of the total computing power of the Bitcoin network will be unprofitable after the halving.

Top managers of mining companies believe that the halving of the block reward will not be a problem for established players in the industry, although less efficient enterprises may “get out of the game.”

Experts have allowed a post-halving outflow of outdated Bitcoin mining equipment from the United States to regions with lower energy tariffs such as Africa.

Source: Cryptocurrency

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