Bitcoin Miners’ Revenue Hits Record $2 Billion in March

Bitcoin miners earned over $2 billion in March, setting a new historical record.

Fee revenue amounted to $85.81 million. Back in December, this figure exceeded $337 million amid another Ordinals boom.

Experts such as Blockstream CEO Adam Back have suggested that rising network fees will incentivize miners ahead of the upcoming halving in April. 

However, as the planned reduction of the block reward from 6.25 BTC to 3.125 BTC approaches in April, daily fee volumes have returned to around $2 million. In the early days of the month, the figure showed no significant change.

According to Galaxy Digital specialists, approximately 15-20% of the total computing power of the Bitcoin network will become unprofitable after the halving. 

Top executives of mining companies believe that the halving of the block reward will not pose a problem for major industry players, although less efficient enterprises may “exit the game.”

Experts have suggested a post-halving migration of outdated Bitcoin mining equipment from the US to regions with lower energy tariffs, such as Africa.