Mining Bitcoin made increasingly more money at the end of 2020, but profit growth seemingly stopped during March 2021. During the mining of cryptocurrencies, a computer is trying to solve complicated logic puzzles to verify transactions in the blockchain. When this process is completed, the miner receives cryptocurrency as a block reward. The underlying development is that machines with more computing power - or hashrate - are likely to solve more puzzles, and therefore mine more cryptocurrencies. Whether a miner can make money with this depends on various costs such as electricity consumption during this process, transaction fees or whether the hardware used is efficient or not.
Mining profitability of Bitcoin per day from July 2015 to April 11, 2024
(in U.S. dollar per day for one terahash/s)
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Mining profitability in USD/day for 1 TH/s
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BitInfoCharts. (April 12, 2024). Mining profitability of Bitcoin per day from July 2015 to April 11, 2024 (in U.S. dollar per day for one terahash/s) [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/1224262/bitcoin-mining-profitability/
BitInfoCharts. "Mining profitability of Bitcoin per day from July 2015 to April 11, 2024 (in U.S. dollar per day for one terahash/s)." Chart. April 12, 2024. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1224262/bitcoin-mining-profitability/
BitInfoCharts. (2024). Mining profitability of Bitcoin per day from July 2015 to April 11, 2024 (in U.S. dollar per day for one terahash/s). Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/1224262/bitcoin-mining-profitability/
BitInfoCharts. "Mining Profitability of Bitcoin per Day from July 2015 to April 11, 2024 (in U.S. Dollar per Day for One Terahash/S)." Statista, Statista Inc., 12 Apr 2024, https://www.statista.com/statistics/1224262/bitcoin-mining-profitability/
BitInfoCharts, Mining profitability of Bitcoin per day from July 2015 to April 11, 2024 (in U.S. dollar per day for one terahash/s) Statista, https://www.statista.com/statistics/1224262/bitcoin-mining-profitability/ (last visited July 22, 2024)
Mining profitability of Bitcoin per day from July 2015 to April 11, 2024 (in U.S. dollar per day for one terahash/s) [Graph], BitInfoCharts, April 12, 2024. [Online]. Available: https://www.statista.com/statistics/1224262/bitcoin-mining-profitability/