Bitcoin [BTC]miningrevenues forthe primarysix months in this year have already surpassedresults in2017,however the miners themselves seevery littleprofit, weekly crypto outlet ‘Diar’ reports.
In line with a recent report published by ‘Diar,’ the rewardsand the associated feesfor BTC miners have already reached $4.7 Blnwithin theinitial threequarters of 2018, around $1.4 Blnmore thanthe profitsaltogetherof 2017. Miners are still however able to gainaround 54,000 Bitcoins monthly, the report added.
However, mining now a days is simply profitablejust forbig guns as the electricitypricesaregradually increasing. Diar assessments show that the miners paying retail electricitypriceshave shifted towardsdisadvantagesforthe primarytime since this Sept.
Adding further, the report from ‘Diar’ mentioned:
“Bitcoin mining at least for now, andpossiblywithin thefuture, moved into the courtof larger players with deep pockets.”
However, even majorcorporationsmay needto regulatetheir business,in line with Diar. For example, Chinese miningcompany‘Bitmain’,thatreceived around 95%of its revenue in 2018 from the sale of miners, is “actingsort of aswing producer” andlaunchingpools in United Statesso asto keepthe network profitable for miners.
As reported by EtherDesk earlier, another report by Diar within this week mentioned, San Francisco-based crypto exchange Coinbase’s USD volumes have hit a 1-year lowwithin thethird quarter of 2018. However,comparedtoan equivalentperiod last year, BTCtradingvolumes arecurrentlyslightly higher ($5.4 Bln in 2018 against $4.6 Bln in 2017).Within themeanwhile, Bitstamp exchange Trading volume of BTC was around $4.4 Bln,whereasit had beenat around $4.6 Blnwithin thesameperiodlast year.
Earlier as per a report by EtherDesk, Bitmainproclaimeda $500 Mln investment in August in blockchaindatacenter and mining facility inthe Texas.The developmentwasestimatedto be launched in early 2019, with plans toherald400nativejobswithin thefirst2years.