{"id":516701,"date":"2022-11-27T09:40:34","date_gmt":"2022-11-27T06:40:34","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-mining-revenue-lowest-in-two-years-hash-rate-on-the-decline\/"},"modified":"2022-11-27T09:40:34","modified_gmt":"2022-11-27T06:40:34","slug":"bitcoin-mining-revenue-lowest-in-two-years-hash-rate-on-the-decline","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-mining-revenue-lowest-in-two-years-hash-rate-on-the-decline\/","title":{"rendered":"# Bitcoin mining revenue lowest in two years, hash rate on the decline"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3c883be8abd\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3c883be8abd\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-mining-revenue-lowest-in-two-years-hash-rate-on-the-decline\/#%E2%80%9D_Bitcoin_mining_revenue_lowest_in_two_years_hash_rate_on_the_decline_%E2%80%9C\" >&#8221; Bitcoin mining revenue lowest in two years, hash rate on the decline &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_mining_revenue_lowest_in_two_years_hash_rate_on_the_decline_%E2%80%9C\"><\/span>&#8221; Bitcoin mining revenue lowest in two years, hash rate on the decline &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-5129e2ea>The revenue earned by Bitcoin (BTC) miners fell to two-year lows owing to poor market performance and a heavier computational demand amid rising network difficulty. However, an ongoing downturn in the Bitcoin hash rate over the past month has allowed miners to recoup losses.<\/p>\n<p>The total Bitcoin mining revenue \u2014 block rewards and transaction fees \u2014 in U.S. dollars fell down to $11.67 million, a number last seen on Nov. 2, 2020, when Bitcoin\u2019s trading price was around $13,500.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-11\/6e637e4a-cdd8-46d3-b311-279f27b3e450.png\"><\/figure>\n<p>While the current market price of around $16,500 suggests an obvious increase in mining revenue, factors including greater mining difficulty and rising energy prices contribute to lower income in dollar terms.<\/p>\n<p>Adding to the above, the difficulty of mining a Bitcoin block has skyrocketed to an all-time high of almost 37 trillion \u2014 forcing Bitcoin miners to spend more energy and computational power to stay competitive. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-11\/40f6f795-a3f4-4562-9f08-d6c0d21b75ea.png\"><\/figure>\n<p>However, over the past three months, the hash rate of the Bitcoin network witnessed a steady decline. The hash rate stands at 225.9 exahash per second (EH\/s), which fell 28.6% from its all-time of 316,7 EH\/s on Oct. 31, 2022.<\/p>\n<p>The hash rate is a security metric that helps protect the Bitcoin network from double-spending attacks. However, considering the grand scheme of things, temporary measures taken by the community include acquiring cheaper mining hardware and resettling in jurisdictions with low energy prices.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Bitcoin miners look to software to help balance the Texas grid<\/em><\/strong><\/p>\n<p>New York City mayor Eric Adams believes that goal to make New York a crypto hub can be combined with statewide efforts to curb environmental costs related to crypto mining.<\/p>\n<p>\u201cI\u2019m going to work with the legislators who are in support and those who have concerns, and I believe we are going to come to a great meeting place,\u201d said Adams while revealing that the city will work with legislators to find a balance between the crypto industry development and legislative needs.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-mining-revenue-lowest-in-two-years-hash-rate-on-the-decline\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin mining revenue lowest in two years, hash rate on the decline &#8220; The revenue earned by Bitcoin (BTC) miners fell to two-year lows owing to poor market performance and a heavier computational demand amid rising network difficulty. However, an ongoing downturn in the Bitcoin hash rate over the past month has allowed miners&#8230;<\/p>\n","protected":false},"author":1,"featured_media":516702,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvZWViZjBiODAtZGM0NC00YmE3LWFkY2ItOGFjZjEwOWIxZjA5LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[80947,74862,74989,75462,75029,75042,74355],"class_list":["post-516701","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-antminer","tag-bitcoin","tag-bitcoin-mining","tag-hash-rate","tag-lightning-network","tag-mining","tag-adoption"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/516701","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=516701"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/516701\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/516702"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=516701"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=516701"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=516701"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}