Glassnode Insights: Online Bitcoin miners’ income increased by 57% after June 19

On August 18, according to a report released by Glassnode Insights on Monday, due to factors such as the adjustment of mining difficulty, the income of Bitcoin miners who insisted on online mining after "June 19" has increased by 57%, and is currently about 8.8 BTC/EH.

In mid-June, Bitcoin miners in Sichuan and other provinces collectively lost power. An estimated 90% of Chinese Bitcoin miners migrated, causing the computing power of the entire network to plummet by 50%.

But as miners move overseas, Will Clemente, chief analyst at Blockware Solutions, believes that mining competition is beginning to decrease, and profitability is becoming higher for miners who still insist on operating.

However, competition for mining revenue may intensify in the future. Glassnode pointed out in the report that Bitcoin computing power has increased by about 25% in the past two months, and mining difficulty has increased twice in a row. In other words, compared with two months ago, the same effort will get less BTC reward now.