According to the latest newsletter shared by blockchain research firm Diar, bitcoin miners' incomes have begun to recover slightly after falling to their lowest levels in 18 months.
Bitcoin miners' revenues reached $195 million in February 2019, down from the $210 million registered in January and far from the $951 million from December 2017. The last two months of 2018 were unprofitable for cryptocurrency miners due to the 50% collapse of the market.
However, according to Diar, things have started to go better this year, noting, for example, that the gross margins of Bitmain Antminer S9's users have improved compared to a month ago.
Why it is important
- This might mean that the crypto market could be recovering from the bearish trend it has been suffering for more than a year.
- Now that miners are starting to see minor gains, it is likely that they spend more money on the latest mining equipment in order to stay competitive.
- Several hardware manufacturers have felt victims to the decline in the crypto market. For example, NVIDIA announced in August 2018 it had decided to stop making mining devices.
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