minerosdebitcoin

Bitcoin: Miners earn $1.120 billion in September

Bitcoin miners collected approximately $1.12 billion in September, their best month since January. The BTC recovery supported revenues while network difficulty barely changed in its latest adjustment. It slid only 0.03%, to 132.72 trillion. After several difficult months, conditions are becoming a bit less tense for operators.

Bitcoin miners generated $1.12 billion in September.

Hashprice held at around $40 per PH/s.

Bitcoin offers miners their best month since January

September ended noticeably better than how it started for the mining industry. Revenues reached approximately $1.12 billion, up from $1.08 billion in May. Only January had a better result this year, with around $1.15 billion.

The recovery was already visible at the beginning of September. At that time, Bitcoin’s hashprice had risen 22.24% over a month while the network’s computing power remained below 1 ZH/s.

The trend continued throughout the month. The hashprice, which measures the daily value generated per petahash of computing power, hit a 30-day high of $41.51. Its lowest point was $37.45.

For most of September, it hovered around $40 per PH/s. For a miner, a few dollars’ difference in this metric can become important when multiplied across hundreds of petahash and thousands of machines.

Bitcoin also benefited from a better market environment in August and September. A price increase directly boosts the dollar value of the rewards miners receive. The result is reflected in the ledgers: $1.12 billion in one month. For an industry that spent much of the year cutting costs, September brings a little breathing room.

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