The recent surge in Bitcoin's price has positively impacted miner revenues, with returns climbing to levels last seen in June. The currency's value per 1 PH/s of SHA256 hashrate increased to its highest point in 152 days, marking notable profitability for mining operations.
According to industry analysts, miner revenue has seen a 40% increase over the past three weeks, coinciding with Bitcoin's price jumping by 25% to reach $93,000. This boost provides a significant advantage to miners within the industry.
This recovery in revenue means miners can now invest in new equipment and consider expanding their operations. As this trend appears likely to continue, there is a potential for miners to increase their market share while simultaneously enhancing the overall security of the network.
