In 2024, the Bitcoin mining industry achieved significant milestones and developments, according to a report by NiceHash and Digital Mining. The industry experienced high block space demand, increased hashrate, and new trends in mining machine models. Large mining companies also expanded through mergers and acquisitions to enhance output and efficiency. The Bitcoin network started at block 823,807 and ended at block 877,270 in 2024, with 53,463 blocks produced. The fourth Bitcoin halving reduced miner rewards from 6.25 BTC to 3.125 per block, resulting in 93.75% of all Bitcoin being mined. Despite the challenges posed by the halving, miners added a record amount of hashrate to the network. The United States remained a dominant region in the mining industry, but Africa and South America emerged as miners leveraged their underutilized energy resources. Miners also shifted towards a bitcoin treasury strategy, raising capital and expanding capacities. The halving event caused lower BTC production, but a higher BTC price helped mitigate the impact. NiceHash and Digital Mining predicted broader adoption of the bitcoin treasury strategy, increased profitability for miners, and a network hashrate surpassing 1 zetahash in 2025.



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