Bitcoin miners will obtain revenues up to USD 5.4 billion
Profits for rewards, block generation and total commissions equal 62.9% when compared to 2017
An analysis carried out by the bitcoin mining network CoinDhares in December 2019 indicated that the cryptocurrency miners could receive about USD 5.4 billion in revenue from rewards, block generation and total commissions, in addition to transaction fees in the bitcoin network.
Despite the fact that the amount of revenue for this year is slightly lower than the one received last year, the miners were able to easily overcome the revenues compared to 2017 when their earnings were around USD 3.8 billion, just when bitcoin was at the highest price of the digital currency of all time.
The company also reported that miners have been taking advantage of the increase in cash flows in spring and summer for reinvestment of more powerful mining equipment that allows them to survive the next bitcoin halving, scheduled for next year.
According to a report published by CoinMetrics in November this year, it was presumed about the revenue expectations that bitcoin miners should have in order to cover the costs of the process of generating new units.
At that time, the firm reflected that more than USD 6,000 million in BTC per year were to be sold by mining companies to cover the costs of the process.
K.Villarroel
Source: cointelegraph
