The profitability of Bitcoin mining has updated its annual maximum, the analytical service Glassnode reported on its Twitter account. As of November 18, the daily income of BTC miners was $21.2 million. This amount is the sum of the reward that miners receive for finding a block, and commissions for conducting transactions.
Glassnode noted that the profitability of mining the first cryptocurrency also fully recovered to the levels before the May halving. Then the reward for finding a block in the coin network decreased by half, from 12.5 to 6.25 BTC. Against this background, the daily income of BTC mining fell from $20 million to $7 million.
The growth of its value helped to restore the profitability of mining the main digital coin. In May, at the time of halving, bitcoin was trading in the range of $8,500 - $9,000.Since then, the asset rate has increased by about 100%, to $17,500, and yesterday, November 18, it rose above $18,400.
Reducing the difficulty of mining also had a beneficial effect on the profitability of bitcoin mining. In early November, this figure dropped by 16%, to 16.78 trillion hashes. But after the last recalculation, the difficulty increased again, the current value is 17.60 trillion hashes.
