Share this article
BTC
$95,318.56
+
1.76%ETH
$1,800.84
+
2.03%USDT
$1.0008
+
0.03%XRP
$2.1960
-
0.60%BNB
$604.95
+
0.97%SOL
$151.45
-
0.16%USDC
$0.9999
-
0.00%DOGE
$0.1817
+
0.26%ADA
$0.7174
-
1.54%TRX
$0.2431
-
1.38%SUI
$3.5951
+
8.77%LINK
$15.06
+
0.62%AVAX
$22.33
+
0.29%XLM
$0.2845
+
1.83%HBAR
$0.1959
+
4.51%SHIB
$0.0₄1389
+
2.35%LEO
$8.8418
-
4.23%TON
$3.2378
+
2.16%BCH
$375.44
+
6.77%LTC
$86.59
+
3.74%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menuConsensus
- Back to menu
- Back to menu
- Back to menu
- Back to menuWebinars & Events
Bitcoin Miners See Revenue Per TH/s Nearly Triple in 3 Months
Mining revenue has reached its highest mark since early August 2019.
Bitcoin mining revenue has nearly tripled in the past three months measured by dollars per terahashes per second (TH/s).
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- In early October, miners were earning roughly $0.078 per TH/s.
- Following bitcoin's parabolic price rally, that revenue has soared by 265%, reaching $0.284 Thursday.
- Not since early August 2019 has miner revenue reached these levels, according to data from Luxor Technologies.
- Bitcoin cut through the $40,000 mark Thursday afternoon, extending its early year gains to well over 30%, extending on its more than 300% gains in 2020.
- With market conditions prompting existing miners to expand their operations and new participants to join the sector, mining equipment manufacturers are struggling to keep pace with demand. Bitmain, for example, has sold out until August and nearly doubled the price of its S19 model, per CoinDesk's prior reporting.
- Amid the mining machine shortage, miners are scouring secondary markets for any available and efficient machines they can find as mining revenue continues to increase along bitcoin's price.
Zack Voell
Zack Voell is a financial writer with extensive experience in cryptocurrency research and technical writing. He has previously worked with leading cryptocurrency data and technology firms, including Messari and Blockstream. His work (and tweets) has appeared in The New York Times, Financial Times, The Independent and more. He owns bitcoin.
