0 reply
0 recast
0 reaction
Wall Street Bitcoin Miners Just Made Millions, Profits Hit 7-Month High - Here's How
The crypto mining sector saw profitability rise to a seven-month high in December, with daily block reward revenue reaching $57,300 per EH/s amid Bitcoin's 40% rally to over $107,000. Wall Street miners' hashrates surged 94% year-to-date, controlling 29% of the network. However, miners sold 140,000 BTC ($13.72 billion) to cover operational costs, reducing holdings to 1.95 million BTC. Despite increased mining difficulty, daily revenues hit $50 million, the highest since April. Some miners, like Riot Platform, are increasing reserves, while others issue bonds to fund expansion. Bitcoin's price showed resilience despite the sell-off. 1 reply
0 recast
2 reactions
1 reply
0 recast
1 reaction
