Bitcoin miners’ earnings hit a record $2 billion before halving event

Bitcoin miners have reached a record $2 billion in earnings ahead of the halving event, with earnings reaching a high of $2.01 billion from rewards and transfer fees. This marks the highest revenue in the last year and the highest record month for miner income in the network’s lifetime. The previous peak was in May 2021, when earnings reached $1.74 billion.

Throughout March, bitcoin mining pools successfully mined 4,412 blocks, with Foundry USA leading the charge by uncovering 1,312 blocks, accounting for approximately 29.74% of the network’s total. Antpool came in second, discovering 989 blocks, accounting for 22.42% of the total blocks mined. Viabtc, F2pool, and Binance Pool followed closely behind. As the month draws to a close, data reveals that 54 mining entities actively contribute hashrate to the network.

Currently, the Bitcoin network’s hashrate is maintaining a steady pace at 606 exahash per second (EH/s), with a noticeable increase of 20 EH/s over the last month. Bitcoin’s hashprice, which estimates the daily value of one petahash per second (PH/s) of mining power, consistently stayed above the $100 mark throughout the month.

At the time of writing, at block height 837,246, there are approximately 2,754 blocks left until the fourth halving. Bitcoin and other cryptocurrencies dropped below key levels on Monday in a selloff that could have been due to a lack of liquidity over the long Easter weekend. It doesn’t look like another correction of the scale that hit crypto in recent weeks. The most famous cryptocurrency is -3.94% down and is trading at $68,470 at the time of writing.