Miners earned $4.7 billion in 2018

The profitability of small miners, who pay for electricity at retail prices, became zero in 2018. According to Diar study, this occurred the first time in history. Experts found, that despite the significant increase income at extraction of cryptocurrency, even the largest pools earned almost nothing.

Over the past 9 months, miners received income in $4.7 billion. Each month they extract 54 thousand bitcoins, adding new blocks to the system. At the average market rate this amounts to $355 million. In addition, pools receive commissions for conducting client transactions.

income from mining in 2018

(Income from mining in 2018)

In 2018, income from Bitcoin mining amounted to $1.7 billion, higher than in the past year. At the same time, Diar analysts stressed, that situation on the market is very complicated. Even big players, like Bitmain, have difficulties. Chinese mining pool was forced to distribute computing power between countries for lowering cost of electricity consumption.

Other big player, Genesis Mining reported that some tariffs had ceased to be profitable. Therefore, clients went to five-year premium contracts.

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