Bitcoin Mining Profitability Rose in December for Second Month in a Row

The network hashrate rose 54% in 2024. Bitcoin (BTC) miners’ daily revenue and gross profit rose for the second consecutive month in December, hitting the highest levels since April.

Mining profitability increased as the rally in the world’s largest cryptocurrency continued to outpace network hashrate growth, the bank noted.

Bitcoin miners earned an average of $57,100 per exahash per second (EH/s) in daily block reward revenue last month, 10% more than in November.
The network hashrate grew by 6% in December to an average of 779 EH/s. Mining difficulty rose 7% from the month before and is now 27% higher than before the reward halving event in April.

Bitcoin Mining Profitability Surges in December
December brought great news for Bitcoin miners! For the second consecutive month, mining profitability climbed to its highest levels since April 2024, showcasing the resilience and opportunity in the cryptocurrency mining sector. Here’s the breakdown:
– Increased Revenues: Bitcoin miners earned an average of $57,100 per exahash per second (EH/s) in daily block rewards, marking a 10% increase from November.
– Hashrate Growth: The network hashrate rose by 6% in December to an average of 779 EH/s, reflecting growing network activity.
– Rising Difficulty: Mining difficulty rose by 7%, now 27% higher than pre-halving levels in April 2024.

As Bitcoin’s rally outpaces network hashrate growth, miners are capitalizing on improved profitability and expanding operations. At Eco Power Crypto, we’re committed to driving sustainable Bitcoin mining solutions, leveraging cutting-edge technology to maximize efficiency in this booming sector.
Let’s shape the future of digital assets together!