Bitcoin miner revenue rose 4% in February

Total revenue of Bitcoin miners in February amounted to $627.4 million. The figure rose by 4% from January, according to analytical report ForkLog.

Average Bitcoin transaction fee in February rose 22%—from $1.49 to $1.82. Over the same period the corresponding Ethereum metric fell 7.2%—from $5 to $4.64.

The share of fees in revenue rose to 2.28% (1.38% in January).

As the market gradually recovered, Bitcoin’s hashrate in February rose by 6.73%, hitting an all-time high of 319.4 EH/s.

The steadily rising trend signals industry participants’ confidence in the long-term prospects of Bitcoin and mining in particular.

Hashrate-related mining difficulty again hit an all-time high at 43.05 T. As a result of the latest retargeting, the metric rose by 9.95%.

Despite rising difficulty, hashprice of Bitcoin continued to recover — in mid-February the indicator reached $0.079. This aligns with levels seen at the start of October 2022, preceding the market crash caused by the FTX collapse.

The largest pool share — Foundry USA — reached a third of Bitcoin’s total hashrate (33.3%). AntPool’s share fell from 19.7% to 17.9% over the month, and Poolin from 2.3% to 1.7%.

Earlier, the mining company Riot reported revenue of $259 million for 2022. The Bitcoin miner produced 5,554 BTC — 46% more than in 2021.

Earlier, MicroBT created a modular water-cooled system for mining digital gold.