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Bitcoin mining slowly gaining momentum after a year and a half

bitcoin mining profits increase in 2019

Bitcoin and related activities have been on a downtrend for over eighteen months (18), and the bear market has been taking keep the investors on their toes for quite a while. Recent reports, however, has given some hope to the crypto sphere with a lift in the cryptocurrency mining revenues, Diar confirmed in their latest newsletter.

The report comes at a time when the cryptocurrency miners are looking at a severe downfall and businesses in several countries have been forced to shut down including major cryptocurrency mining firms in South Korea.

Diar report revealed that miners with a workaround for high electricity pricing through wholesale prices. This would allow the miners to make high yields on their mining businesses since the major cost is associated with high energy consumption in the mining process.

The new margins are enough to keep these miners in business, however, at the cost of higher hash power deployment. Mining business had faced a heavy cut off in profits in the last quarter of 2018 when an over fifty percent (50%) cut on the pricing was seen.

Diar, however, has now confirmed that the new progress provides some hope to the mining community with an increase in the Bitmain S9 Antminer profit yields seen in the last month alone.

Taha Farooqui

Taha Farooqui

Taha specializes in copywriting & translating texts. He aims to cover cryptocurrencies & blockchain in both English and local dialects in the Middle Eastern regions. He has helped write, translate, and localize the material related to cryptocurrencies and blockchain.

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