Data shows: Bitcoin mining revenue exceeds $14 billion

According to Coin Metrics, Bitcoin mining revenue has hit a record high, surpassing $14 billion. Despite the fact that the growth of Bitcoin's hash rate has led to an increase in mining difficulty and a decrease in mining profits, miners are still earning more than ever before. After eight years of development, Bitcoin mining revenue exceeded $5 billion for the first time. However, just eight months later (around August 2018), Bitcoin mining revenue reached $10 billion. Since then, the growth rate of mining revenue has slowed down, and according to current trends, it is expected to exceed $15 billion in early 2020. Since the beginning of Bitcoin's crazy bull run in late 2017, Bitcoin's hash rate has also experienced a similar explosive growth. At the beginning of 2018, it was more than 15 quintillion hashes per second (note: Quintillion is the cube of one million), and by September 2018, the value rose to a peak of 60 quintillion hashes per second. In recent months, Bitcoin's hash rate has reached new historical highs. Although the hash rate has risen, mining revenue has grown at a higher rate. So while miners didn’t receive all of the $14 billion in revenue, they are still making huge profits. However, continued growth in hash rate and uncertainty about Bitcoin’s price could be a threat. (Decrypt)