Profits of bitcoin miners increased to $40 million per day

Bitcoin miners' profits have once again reached $40 million a day, according to research firm Glassnode. In April of this year, the profitability of mining set a historic high of $60 million per day. This happened against the backdrop of the first cryptocurrency reaching record price points near $65 thousand. After that, the profitability of mining the first cryptocurrency fell sharply against the backdrop of rollback of quotations and the ban on mining in China. In the summer, the value dropped to $20 million per day, or 67% from the highs.


Analysts Glassnode found that the current income of miners increased by 275% compared to the values observed before the halving (halving) reward miners per mining unit. At that time, profits were at $14-18 million a day.


At the same time the income of miners compared with the indicators after the halving increased by 630% (from $6-8 million). Halving took place in the bitcoin network in May 2020, when the reward for mining the block was halved, from 12.5 to 6.25 BTC.


At the end of September it became known that one of the largest manufacturers of mining equipment Bitmain will stop selling miners in China. Also it will transfer production to other countries due to the restrictions imposed by the authorities on cryptocurrencies.


Earlier, the People's Bank of China imposed a complete ban on cryptocurrency transactions. The use of digital assets in the country now equates to illegal financial activity. After that, Chinese online commerce giant Alibaba notified that it would stop selling cryptocurrency mining equipment from October 8.


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