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Bitcoin miners

Bitcoin Miners Earned $1.72 Billion in October 2021

How much did Bitcoin miners earn last month? In October 2021, became the second in terms of profitability in the entire history of mining the first cryptocurrency. Find out more details in our new LATOKEN review!

How much did Bitcoin miners earn in October 2021?

In October 2021, Bitcoin (BTC) miners, according to The Block, earned $1.72 billion. More than 90% of the miners’ income came from rewards for the found block in the amount of 6.25 BTC. Another 10% of the revenue came from online transaction fees.

Last month (October 2021) was the second most profitable month for miners in history. The record month was March 2021, when Bitcoin miners earned about $1.75 billion.

At the beginning of October, the daily profit of miners exceeded $40 million. The miners’ income increased by 275% compared to the values that were observed before the halving of the miner’s reward for the mined block. Then the profit was at around $14-18 million per day.

In October 2021, Bitcoin rose in price by more than 40%. As a result, the cryptocurrency has renewed its historical maximum, which was set in May and exceeded $67,000. On November 2, Bitcoin was trading at about $63,100, having risen in price by $2,000 in just one hour.

At the end of October, analyst Willy Woo predicted that the current growth cycle of the crypto market will be longer and will last about another year. The current “bullish” growth cycle for Bitcoin is in many ways different from similar past periods, the expert noted.

You can find more information about mining in our articles:

1) Crypto Mining Without China. What Are the Consequences?

2) What Is Crypto Staking, and How It Differs from Mining

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LATOKEN crypto exchange does not provide any investment, tax, legal, or accounting advice. This article is written for informational purposes only. Like other assets, cryptocurrency is subject to market risk. Please do your own research and trade with caution.