Mining
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The total income of bitcoin miners in November amounted to $473.2 million. The figure decreased by 20% compared to October, follows from the ForkLog analytical report.
Data: ForkLog.
The proceeds from transaction fees brought cryptocurrency miners $12 million compared to $7 million a month earlier.
The overall drop in revenues led to a decrease in the price of bitcoin and an increase in the complexity of mining – on November 21, the indicator reached a new high at around 36.95 T.
As a result hashprice updated all-time lows, dropping to $0.056 per 1 TH/s.
Data: ForkLog.
The total hashrate of the bitcoin network (7 MA) remained almost unchanged in November, although it dropped to 234 EH/s amid a deep market correction. This could be due to the shutdown of some equipment by the miners.
For example, at the end of the month, Hut 8 Mining suspended the work of one of the enterprises for 1.17 EH / s. After receiving default notices from two divisions, Iris Energy took approximately 3.6 EH/s off the grid.
Data: ForkLog.
In terms of pools, Foundry USA strengthened its leadership in hash rate with 26.4%. It is followed by AntPool, F2Pool and Binance Pool.
The share of the latter increased from 12.4% to 13.1% over the month. In November, Binance Pool introduced Cloud Mining, a bitcoin cloud mining service.
Data: ForkLog
A difficult month for the mining industry has had a negative impact on the quotes of public companies, most of which recorded a double-digit drop. If Canaan reported a 90% drop in quarterly profits, then Riot Blockchain and Marathon Digital were only able to cut losses for the period.
Data: ForkLog.
Recall that as a result of the next recalculation, the complexity of bitcoin mining decreased immediately by 7.32%, to 34.24 tons. A comparable drop in the indicator was last recorded in July 2021.
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