Bitcoin mining revenue is at $33 million per day, according to Glassnode CTO Rafael Schultze-Kraft—a figure that hasn't been seen since 2017.
Bitcoin mining revenue tracks the total revenue generated by Bitcoin minersminers. At $33 million per day, the rate has increased to a point that has only been beaten for a total of five days during Bitcoin’s famous 2017 bull run in December 2017. The increase also represents a major spike in revenue since Christmas.
“Bitcoin miners are happy,” tweeted Glassnode CTO Rafael Schultze-Kraft.
On December 16, 2020, the total Bitcoin mining revenue was at $17 million, which means the total revenue has increased by over 90% since Christmas and the start of the new year.
This spike however, is not unprecedented. On December 18, 2017, the total Bitcoin mining revenue hit just under $50 million. This spike was achieved just one month after revenue figures were only around $17 million.
Over 35,000 people have signed an online petition asking the US federal government to deem the cryptocurrency XRP a currency.
On December 22, 2020, the Securities and Exchange Commission (SEC) announced an action against Ripple Labs Inc. and two of the company’s executives, alleging they raised over $1.3 billion through an unregistered digital asset securities offering. This has caused mass delistings of the token and caused its price to crash. Now, thousands of frustrated XRP fans are throwing...
Coinciding with the infamous price crash that followed the 2017 Christmas bull run, total Bitcoin mining revenue fell to $16 million by mid-February 2018. Might that happen again?
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