Bitcoin Miners Rake in Record-Breaking $44M in a Day
Originally Published 2 years ago — by Cointelegraph
The Bitcoin mining community achieved its annual all-time high on November 12, earning over $44 million in block rewards and transaction fees. After a period of decline due to factors such as a bear market and unfriendly regulations, 2023 saw a reversal of the trend as crypto entrepreneurs helped restore investor confidence. Marathon Digital Holdings, a Bitcoin mining firm, reported a 670% year-on-year revenue surge in Q3 2023, driven by a significant increase in Bitcoin production. Additionally, countries like Bhutan are actively participating in Bitcoin mining, with plans to expand operations through partnerships with companies like Bitdeer.