Bitcoin miners pulled in revenue of more than $1.09 billion in the month of January. Excluding the revenue secured during the 2017 bull run, this is the highest one-month revenue ever recorded.
InsideBitcoins in a report that the January revenue is mostly made up of block subsidies worth $997 million.
The report also revealed that there was no increase in mining difficulty as expected. InsideBitcoins said this is due to the shortage in the supply of mining equipment, which started in December. One of the biggest mining equipment providers, Bitmain, has since then increased its prices by 20%.
Apart from Bitmain, its rival MicroBT is also moving to review its prices for the coming batch of WhatsMiners. The report states that the daily earnings for Bitcoin miners is up to $0.25 per Terahash a second (TH/s).
With a market capitalization of over $629 billion, Bitcoin is currently up 3.28% to $33,799.45. Following the dip shortly after reaching its all-time high earlier in January, there have been bearish and bullish predictions on the king coin. While some analysts believe that the digital asset will also rally for a while, others are optimistic that BTC is poised to further growth.
In December 2017, Bitcoin miners made $1.25 billion in revenue, the highest ever recorded. In January 2018, BTC miners saw about $1.02 billion.