Bitcoin miners earned over $4 million in just an hour

by in Cryptocurrency News

BTC

Commissions in the Bitcoin network are growing, the day before the average transaction fee was just over $ 25.

Miners last Thursday earned $ 4.06 million in just an hour - this is the maximum figure in the entire history of the BTC blockchain over such a period. This is the conclusion reached by researchers from the Glassnode team. The commissions amounted to about $ 47,000 from this amount.

Despite the May halving (a reduction in the reward for mining a block), the activity of miners continues to increase. Recall that the reward in the spring of last year was halved from 12.5 to 6.25 BTC.

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The value of bitcoin has increased by almost 400% over the past four months. In parallel, the activity of wallets in the network with a non-zero balance increased. The demand for transactions caused them to rise in price. Operating fees exceeded $ 9 million only on February 9.

Analysts associate the observed trend with information about Tesla's investments in Bitcoin in January this year. The electric car manufacturer bought BTC for $ 1.5 billion and announced its readiness to accept cryptocurrency as a payment instrument.

Computing power in the network this week rose to another high. On February 11, Bitcoin's hash rate approached 165 EH/s.