- Bitcoin miners amassed an unprecedented revenue of $2.01 billion in March 2024, with $85.81 million coming from transaction fees.
- March set a new record for the highest monthly miner revenue in Bitcoin’s history, surpassing the previous peak of $1.74 billion in May 2021.
- Foundry USA mined the most blocks in March at 29.74%, followed
Bitcoin miners earned unprecedented revenue in March, raking in over $2 billion from mining rewards and transaction fees. The milestone marked the highest income month ever for miners on the Bitcoin network.
Bitcoin Miners Hit All-Time High Revenue
As the Bitcoin halving event approaches, miners saw a big boost in earnings from both mining rewards and fees. March 2022 set a new record for the highest revenue month in the past year.
Moreover, it marked the highest income month ever for miners in Bitcoin’s history. According to the data, miners earned $2.1 billion total, with $85.1 million coming just from transaction fees. The previous record was in May 2021 when earnings totaled $1.74 billion.
Hashprice Consistently Above $100 per PH/s
Throughout March, the hashprice stayed above $100 per PH/s (petahash per second) each day. The hashprice refers to the anticipated daily revenue from 1 PH/s of hashing power.
Foundry Leads Mining, Over 29% of Blocks
In March, Bitcoin mining pools mined 4,412 blocks total. Foundry USA led the way, uncovering 1,312 blocks, about 29.7% of the total.
Antpool came in second with 989 blocks (22.4%), followed by Viabtc, F2pool, and Binance Pool. Currently 54 entities actively contribute mining power to the Bitcoin network.
Network Hashrate Holds Steady
Bitcoin’s total hashrate is steady around 206 exahash per second (EH/s), with a 20 EH/s increase over the past month. The hashprice consistently stayed above $100, starting at $103.24 on March 1 and climbing to $110.39 by month’s end.
With the blockchain currently at height 837,246, there are about 2,754 blocks remaining until the halving.
Conclusion
March 2022 was a historic month for Bitcoin miners, who enjoyed record revenue ahead of the upcoming halving event. It will be interesting to see how miner earnings are impacted after their rewards are cut in half in the coming weeks.
