Bitcoin

April

Coin

<ul class="news-points"> 
 <li><strong>Binance CEO Changpeng Zhao (CZ) hails Bitcoin’s economic model as the “greatest business model ever invented.”</strong></li> 
 <li><strong>Bitcoin miners achieved a record-high daily revenue of over $44 million on November 12.&nbsp;</strong></li> 
 <li><strong>Between April 2022 and November 2023, miner revenue declined.</strong></li> 
</ul> 
<p>Binance CEO Changpeng Zhao praised Bitcoin’s economic model as the “greatest business model ever invented” in response to data showing mining revenues hit new highs.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Bitcoin is the greatest business model ever invented. <br><br>The amount of value created, to the creator (although I assume he would never move/use those coins), to the miners, to other industry participants, and to holders. <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92f.png" alt="🤯" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/niGRxYZ5mF" target="_blank" rel="nofollow">https://t.co/niGRxYZ5mF</a></p>— CZ 
   <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f536.png" alt="🔶" class="wp-smiley" style="height: 1em; max-height: 1em;"> Binance (@cz_binance) <a href="https://twitter.com/cz_binance/status/1724336227724226831?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">November 14, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Zhao, known widely as CZ, made the comments after <a href="https://www.blockchain.com/explorer/charts/miners-revenue" target="_blank" rel="nofollow">reports</a> emerged that Bitcoin miners generated over $44 million in block rewards and fees on November 12. This marked the highest-ever daily revenue for miners in the last year, surpassing levels last seen in April 2022.</p> 
<p>The mining income primarily stems from the 6.25 BTC reward for successfully mining a block, coupled with transaction fees. However, miner revenue dropped between April 2022 and August…</p>
<p>The post <a href="https://coinedition.com/cz-touts-bitcoin-business-model-as-mining-revenue-hits-44m/">CZ Touts Bitcoin Business Model As Mining Revenue Hits $44M</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.</p>

CZ Touts Bitcoin Business Model As Mining Revenue Hits $44M

Coin Edition

Other articles published on Nov 14, 2023

Crypto.com Granted VASP Licence by Dubai’s VARA

Binance and US SEC Seek Joint Protection From Court in Ongoing Lawsuit

Conut teams up with Foblgate to provide trendy crypto news to exchange users

Riot Achieves Negative Cost in Bitcoin Mining

Crypto is second most popular investment asset in France: Survey

Reddit Token MOON on Dramatic 205% Surge, What Is Happening?

Join our free newsletter for daily crypto updates!