Bitcoin Mining Revenue Soared in October, Securing Second-Highest Monthly Earnings of 2023

In October, the scenery of bitcoin mining gross brightened, climbing by $131.45 cardinal implicit September’s figures. Last month’s surge successful BTC prices importantly bolstered revenues, though determination was a flimsy dip successful the net from fees, which saw a $5.44 cardinal alteration from the erstwhile month. October emerged arsenic the runner-up for the twelvemonth successful presumption of monthly gross generated from BTC artifact rewards.

Staying Alive — October Marks Near-Record 2023 Earnings for Bitcoin Mining

As of this report, a full of 43 chiseled mining pools are channeling SHA256 hashpower toward the Bitcoin blockchain. Collectively, they lend an awesome 463 exahash per 2nd (EH/s).

In the past month, Foundry USA led the charge, discovering 28% of the artifact rewards, portion Antpool was adjacent behind, securing 27% of the subsidies successful October. Not to beryllium overshadowed, some F2pool and Viabtc each claimed astir 11%, and Binance Pool rounded retired the radical by locating 7.23% of the month’s full artifact finds.

The period of October didn’t conscionable bring astir a windfall for miners; it besides marked a trio of successive web difficulty increases, culminating with the past 2.35% hike to a record-setting 62.46 trillion trouble level.

This fig represents the astir formidable situation bitcoin miners person faced passim the network’s existence. Amid the terms surge, Bitcoin miners experienced a gross increase of $131.45 million successful October, surpassing September’s full net of $753.6 million.

October’s gross for bitcoin miners not lone topped the $807.01 cardinal full from August but besides saw a flimsy displacement successful interest collection. Although fees successful October topped August’s $17.2 million, they did not scope the heights of September, falling $5.44 cardinal short.

Miners enjoyed $26.4 cardinal successful fees successful September, but this fig dipped to $20.96 cardinal successful October. A contributing origin to this interest simplification whitethorn beryllium linked to a alteration successful Ordinal inscriptions, though determination has been a recent uptick successful this activity.

In the crypto community, October has been affectionately termed ‘Uptober,’ and fittingly, it delivered the second-highest monthly gross for miners successful the twelvemonth 2023, lone trailing down May’s awesome $919.22 cardinal haul.

What bash you deliberation astir bitcoin miner gross improving successful October? Share your thoughts and opinions astir this taxable successful the comments conception below.