According to the latest report of DIAR, a research company that recently decided to deal with crypto, the total revenue of bitcoin mining has reached the figure of 5 billion, but this does not mean that profits are increasing.
Revenues from bitcoin mining in the first 6 months of 2018 exceeded those of the whole of 2017 by more than 1 billion dollars, but the data shows that since September, mining is no longer profitable.
With the exception of the fact that the market is occasionally dominated by bears, the price of bitcoin remains over 40% higher than a year ago. What has increased instead, are the costs of electricity.
Fees for the first three quarters of this year have already accounted for $4.7 billion in revenue for bitcoin miners.
As the report explains, mining is for big guns only. China, for example, has an average electricity cost of $0.08 kW/h and Hong Kong-based mining giant Bitmain has recently published new information about their business plan that makes the company still very profitable, although, in the first half of 2018, 51.8% of revenue came from the sale of their machines.
