Bitcoin price hits a new high, miners' daily income soared to a staggering $78.6 million.
The price of Bitcoin has reached a new high, and Bitcoin miners' income has hit a historical peak. On March 7th, the daily income of Bitcoin miners reached $78.6 million, surpassing the peak in April 2021. The rise in Bitcoin prices is driven by the halving event and the trading of Bitcoin exchange-traded funds (ETFs) in the United States. The sharp increase in miner income has doubled the value of companies like CleanSpark and Marathon Digital in the past 12 months. Currently, all companies are preparing for success. Thirteen top mining companies have placed orders for professional computers worth over $1 billion.
Zhitong App learned that Bitcoin miners earn new coins by verifying and adding transactions to the blockchain network, while also profiting from fees paid by users. With the price of the largest cryptocurrency Bitcoin trading at record levels, miners reached an all-time high in revenue last week. According to data from CryptoQuant, on March 7th, Bitcoin miners' daily income reached $78.6 million, surpassing the peak during the previous cryptocurrency bull market in April 2021.
It is understood that after experiencing a series of cryptocurrency scandals and bankruptcies in 2022 leading to a prolonged slump, the price of Bitcoin began to rebound last year. The debut of the U.S. spot Bitcoin exchange-traded fund (ETF) on January 11th saw approximately $9.5 billion in net inflows, further boosting the price.
Furthermore, Bitcoin is set to undergo a halving event in April, where miner rewards will be halved, slowing down the coin's supply growth, which has also fueled speculation on price increases.
On Monday, the token's price briefly approached its all-time high of $72,881. Against the backdrop of a 70% increase in Bitcoin price so far this year, miner income has surged.
For miners, this marks a significant recovery from the depths of the cryptocurrency winter. Companies like CleanSpark (CLSK.US) and Marathon Digital (MARA.US), including the Valkyrie Bitcoin Miners ETF, have more than doubled in the past 12 months.
Currently, companies are racing to prepare for success. As reported earlier, since February 2023, 13 top mining companies have placed orders for professional computers worth over $1 billion.