Bitcoin miners see 3x profit margins despite higher network difficulty
Glassnode’s Difficulty Regression Model estimates the cost to mine a single BTC at approximately $33,900.
Bitcoin miners are seeing a threefold profitability margin despite rising network difficulty, according to data from Glassnode.
New results from the Bitcoin (BTC) Difficulty Regression Model estimate the cost to mine a single BTC at approximately $33,900, while the cryptocurrency’s price hit $105,578 on Jan. 21.
However, this profitability margin is still suppressed by growing competition among miners, with hashrates steadily climbing amid this bull run. According to Glassnode data, revenue per exahash stands at $60,800. Miners’ cash flow per mined block was reduced in April when the Bitcoin halving slashed revenue from 6.25 to 3.12 BTC.
Go to Source
Author: Christopher Tepedino
