Bitcoin mining businesses generated their highest-ever monthly revenue in March, raking in over $2 billion in block rewards and transaction fees.
The block subsidy, paid out for each block mined, is currently 6.25 bitcoins. But it will drop to 3.125 bitcoins after the upcoming halving event in April.
The upcoming halving created urgency for miners to maximize earnings before profits are squeezed.
The widening supply-demand imbalance and halving-related scarcity could spur greater competition to secure Bitcoin.
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