Bitcoin mining rewards reach pre-halving levels

The Bitcoin $BTC price is currently trading past $15500, which is the highest level since January 2018. This is one of the driving factor why Bitcoin Mining is getting more and more profitable today.

Bitcoin miners revenue hit a record $20.8 mil on November 4th. This is the highest number recorded since September 2019, when the block rewards were twice as high as now.


The spike in BTC mining revenue comes from the price doubling since the reward halving on May. The price reached a new 2020 high trading at $15,950 on November 4th.

One of the factors affecting the reward growth is the rise in BTC transaction fees. The Bitcoin tx fees have surged almost 200% in October. Due to this factor the miner revenue have increased drastically.

Mining pool outflows. Source: CryptoQuant

A noticable spike in transactions from miners to exchanges have also been noticed, indicating that miners are getting ready to sell their mined BTC.

Sources: Cointelegraph