Wednesday, December 8, 2021
Home Crypto News Analysis In October Bitcoin Miners Received $1.72 Billion In Profits

In October Bitcoin Miners Received $1.72 Billion In Profits

- Advertisement -

October became quite successful for bitcoin miners as their BTC mining profit was $1.72 billion, almost reaching the May record of $1.75 billion.

Bitcoin miners’ profit from Transaction fees was only $27.47 million – 1.62% of the total revenue. The rest of the profit came from block subsidies, amounting to 6.26 BTC per transaction block.

btc mining profits in october

Chart Source: The Block Crypto


As a reminder, on October 20, Bitcoin reached its all-time high exceeding $66,000. Considering that Bitcoin miners receive income in BTC, it is not surprising that the earnings in US dollars almost touched the May all-time high mining profits.

At the same time, according to Kraken analysts, big miners are not selling their mined BTC. A similar trend of BTC accumulation is observed among smaller mining companies. At the end of October, the Bitcoin network hash rate returned to 188.666 Eh/s.

- Advertisement -
Ammara Mubin is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Ammara authored more than 1,000 stories for TheCryptoBasic, CryptoComes and other fintech media outlets. She is particularly interested in regulatory trends around the globe that are shaping the future of digital assets.


Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

Floki Inu To Be Seen At Least 210 Million Times After Floki New Partnership With Russian Most Famous Football Club

 Floki Inu announced a partnership with the Russian most famous Football club "Spartak-Moscow." window.coinzilla_display = window.coinzilla_display ||...

Dogecoin Entered Top 5 Most Searched Google News Queries of 2021

Dogecoin (DOGE) ranked fourth in the list of the most searched Google searches worldwide in the News category in 2021. trends.embed.renderTopChartsWidget("12671d45-ca76-450b-9ced-14f27b4587b4", {"geo":"GLOBAL","guestPath":""}, 2021);...

New Order Announces $NEWO Token Sale Through Dutch Auction On MISO

Toronto, Canada, 8th December, 2021, New Order, a community-driven venture DAO incubator for decentralized financial (DeFi) projects, announced the public sale of its governance...

Billionaire And Former Google CEO, Eric Schmidt Becomes Chainlink Strategic Advisor

Former Google CEO and Billionaire, Eric Schmidt has joined oracle provider Chainlink Labs as a strategic advisor. ...

Shiba Inu Games Became Partners With Australian Playside Studios

Playside Studios (PLY) shares price jumped more than 4% to $0.83 after Australia’s largest publicly listed video games developer entered into a material fixed...

Visa Is Launching An Advisory Practice That Will Help Further Mainstream Adoption Of Bitcoin And Other Digital Assets

Payment giant Visa has announced the launch of a new advisory division to help clients navigate the cryptocurrencies world reported by CNBC.

10% Of Americans Plan To Give Crypto On Christmas As Gift With Bitcoin #1 Choice For Holiday Gifting

Almost every tenth citizen of the United States is ready to give cryptocurrencies as a gift for the New Year, and every fourth is...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.