Bitcoin

April

when

Bitcoin miner revenue recorded its second-best day in history on March 6, a day after the Bitcoin&nbsp;price <a href="https://cointelegraph.com/news/bitcoin-price-sets-new-record-high-69k">hit a new all-time high</a><a href="https://cointelegraph.com/news/bitcoin-price-sets-new-record-high-69k"></a> above $69,200.
Daily Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>)&nbsp;miner revenue reached $75.9 million on March 6, according to an X post by Julio Moreno, head of research at CryptoQuant.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-03/29567e1a-6e68-4b47-bb21-9537596226c7.jpeg" alt="" title="">
 <figcaption style="text-align: center;">
 Bitcoin Miner Daily Revenue. Source: <a href="https://twitter.com/jjcmoreno/status/1765585017663635807/photo/1" target="_blank" rel="noopener nofollow">Julio Moreno on X</a><a href="https://twitter.com/jjcmoreno/status/1765585017663635807/photo/1" target="_blank" rel="noopener nofollow"></a>
 </figcaption>
</figure>
The revenue surge came the same day as <a href="https://cointelegraph.com/news/hut-8-closes-bitcoin-mining-site-citing-surging-energy-costs"></a><a href="https://cointelegraph.com/news/hut-8-closes-bitcoin-mining-site-citing-surging-energy-costs">Bitcoin miner Hut 8 announced the closure</a> of its mining site in Drumheller, Alberta, Canada, with immediate effect due to power disruptions and surging energy costs. 
The facility mined 48 Bitcoin per year on average, representing approximately 1.4% of the firm’s holdings, comprising 11% of its hash rate, <a href="https://www.globenewswire.com/news-release/2024/03/06/2841217/0/en/Hut-8-Streamlines-Operations-with-Closure-of-Drumheller-Site.html" target="_blank" rel="noopener nofollow">according</a> to a March 6 announcement.
The $75.9 million represents the second-best day after the record $77.3 million daily revenue generated on April 14, 2021, when Bitcoin was trading above the $60,000 mark.
Some of the largest <a href="https://cointelegraph.com/news/bitcoin-mining-stocks-dip-27-percent-despite-bitcoin-rally">Bitcoin mining stocks dipped over 27%</a> in the three days leading up to March 1 as Bitcoin reached the $64,000 mark.
According to Blockware Solutions’ head analyst Mitchell Askew, the “most logical” explanation is investors being weary of deploying capital into Bitcoin miners ahead of the much-awaited halving.
The halving event will see Bitcoin miner rewards sliced from 6.25 BTC, worth $417,279, to 3.125 BTC, worth $208,638, at the time of writing.
Related: <a href="https://cointelegraph.com/news/is-the-bitcoin-halving-the-right-time-to-invest-in-btc">Is the Bitcoin halving the right time to invest in BTC?</a>
<h2 data-ct-non-breakable="true" id="is-a-bitcoin-price-correction-due">Is a Bitcoin price correction due?</h2>
After the previous all-time high in miner revenue, the Bitcoin price retraced over 22% in the following 11 days, to a resistance of $49,066 on April 25, down from $63,575 on April 14.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-03/4f44f33e-4321-4f46-a9db-89c1c77f02cd.png" alt="" title="">
 <figcaption style="text-align: center;">
 BTC/USDT 1-day chart, Source: CoinMarketCap
 </figcaption>
</figure>
Bitcoin price fell 0.54% in the 24 hours leading up to 9:53 am UTC to change hands at $66,768. The world’s first cryptocurrency is up over 6.8% on the weekly chart.
While most analysts are optimistic about Bitcoin’s trajectory, Bitcoin prices could still see a retracement to below $44,000 during 2024, according to technical analysis from pseudonymous Bitcoin analyst Dave the wave, who stated in a March 5 X post:
<blockquote data-ct-non-breakable="true">
 “Though I’m comfortable with an indeterminate future, and where we’re currently at technically and potentially a pivotal point with resistance at previous ATHs, the default option has to be to stick with the continued parabolic move until at least the bold dotted line is broken.”
</blockquote>
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-03/bf6f0f8b-0d7d-41a3-9433-49824960e60d.jpeg" alt="" title="">
 <figcaption style="text-align: center;">
 BTC/USD chart. Source: <a href="https://twitter.com/davthewave/status/1764911136464630046/photo/1" target="_blank" rel="noopener nofollow">Dave the ave on X</a>
 </figcaption>
</figure>
Related: <a href="https://cointelegraph.com/news/bitcoin-price-south-korea-72k-kimchi-premium-returns">Bitcoin price hits $72K in South Korea as ‘Kimchi premium’ returns</a>

Bitcoin miner revenue records second-best day in history

目次

Cointelegraph

2024年3月7日公開の他の記事

The Pushd (PUSHD) Presale Success: Chainlink (LINK) and Bitcoin (BTC) Bulls Embrace the New Age o...

Bitcoin and Gold Hit Record Highs: Insights from Gareth Soloway

Shiba Inu (SHIB) Burns 146 Million Tokens in Fight to Retain Top 10

What's the Hidden Danger Behind Spot Ethereum ETFs? BitMEX Analysts Announced!

The Digital Ruble will put an end to Bitcoin! According to a Russian economist.

Foodstuffs’ Facial Recognition Trial Aims to Tackle Retail Crime Crisis

ニュースレターを購読して暗号資産の最新情報を毎日入手！