CandleFocus Bitcoin Mining Revenue Jumped 24% in November as Price Approached $100K
2024-12-02
Author: Content Editor
In November, Bitcoin miners experienced significant profits due to the increase in Bitcoin prices and transaction fees. Publicly listed miners saw their market cap rise by 52%. Bitcoin miners earned $52,000 per exahash daily, a 24% increase from October. The surge in transaction fees around the US presidential election provided miners with hashprice relief. The overall network hashrate grew by 4%, but mining difficulty outpaced this increase by rising 7%. Publicly traded Bitcoin miners' market capitalization increased by 52%, showing growing investor confidence in the sector. Bitcoin's annualized volatility rose to 62% in November. While challenges remain, the report is optimistic about the near-term future of Bitcoin mining.
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