Bitcoin miners help to keep the network running. Image: Shutterstock. In brief Hourly Bitcoin mining revenue is at its highest since Julyreports Glassnode.
That's because Bitcoin earnings every hour miners are in hot demand. They secure the network by processing transactions.
Bitcoin miners, too, are rolling in the money. The last time miner revenue was this high, was in July Note that block rewards were twice as high than today. They do this by solving complex computational puzzles on the blockchain.
The most powerful computers beat the rest to the punch, meaning that miners have to become ever more powerful to compete. But they make even more money when demand outstrips supply; the network hikes up fees in times of congestion, meaning that Bitcoin miners powerful enough to earn fees stand to profit.
It's big business.
Disclaimer The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
For the best experience, top crypto news at your fingertips and exclusive features download now.