According to statistics, 4,498 blocks have been mined in the last 30 days, creating 28,112 new bitcoins in the last month. Bitcoin’s network hash rate has been around 341 exahash per second (EH/s) over the last 2016 blocks or the last two weeks. This month mining pools Foundry USA and Antpool dominated the pack, accounting for 52.87% of the global hashrate in March.
Bitcoin Mining revenue has increased month over month since December
Bitcoin miners had a decent month in March with earnings not seen since until June 2022. In the last 30 days, 4,498 blocks were discovered and bitcoin miners achieved $734.78 million in earnings.
Top five mining pools by hashrate size for the month of March.
Of that value, 28,112 newly minted bitcoins were issued, amounting to $712.12 million. March statistics further show that bitcoin miners earned approximately $22.66 million in transaction fees.
Pool distribution for the month of March 2023.
March’s total bitcoin revenue of $734 million also surpassed February’s $627 million, January’s $601 million and December’s $477 million. Of the 4,498 blocks, the largest mining pool by network hashrate, Foundry USA, discovered 1,468 blocks or 9,175 new bitcoins.
The foundry’s percentage hashrate in March was around 32.64%, and at press time the pool has 105 EH/s of hashpower. Antpool found 910 blocks in March, which produced 5,687.50 BTC.
Foundry and Antpool are followed by F2Pool, Binance Pool, Viabtc, BTC.com, Luxor and Braiins Pool. Last week, Bitcoin’s hash rate reached the 400 EH/s range, and on March 25, 2023, it reached an all-time high of 414.34 EH/s.
With the hash rate so high and block intervals below the ten-minute average, the next difficulty change is expected to occur on April 6, 2023. Currently, the difficulty estimates are roughly between 1.20% to 1.38% higher than the current difficulty of 46.84 trillion.
Three years ago, Bitcoin’s hash rate crossed the 100 EH/s range, and today it is 240% higher than that period. At that time in April 2020, the total revenue earned by Bitcoin miners was $412.42 million, with transaction fees accounting for $6.07 million of the total.
What do you think the future holds for Bitcoin mining, given the current trend in revenue and hashrate? Share your thoughts on this topic in the comments section below.
Jamie Redman
Jamie Redman is the news editor at Bitcoin.com News and a financial technology journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
