Miners of the first cryptocurrency earned $1.7 billion in April

03.05.2021 |

In April, miners of the first cryptocurrency earned $1.7 billion, as a result of mining the first cryptocurrency failed to reach the indicators of the previous month in April. While March managed to get $1.75 billion, April fell $50 million short of that figure.

At the same time, miners’ income from transaction fees increased, falling slightly short of the December 2017 figures. This time, the amount of remittance fees rose to 14.5% of the total amount, and in dollar terms amounted to almost $250 million. Higher than this figure was only possible to mine in January 2018. This shows the stabilization of the first cryptocurrency. The growth of fee income is a reliable indicator of the popularity and increasing confidence in digital gold.

Several factors had a negative impact on the profitability of mining. In dollar terms, the drawdown occurred due to the drop in prices. April showed extremely high volatility. On the one hand, the prices of digital gold on online exchanges set a new record at above $64 000, on the other hand, during the same period, one of the fastest drops below $48 000 occurred. And in terms of cryptocurrency, the shutdown of a large portion of the volume of mining capacity led, even though in the short term, to a decrease in the speed of finding new blocks. Thus, the issuance of new coins was somewhat slowed down.