Bitcoin Forum
November 02, 2024, 01:53:00 AM *
News: Latest Bitcoin Core release: 28.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: 1,540% increase in revenue from Bitcoin-related activities.  (Read 115 times)
BIN-BIN (OP)
Member
**
Offline Offline

Activity: 504
Merit: 57


View Profile
August 25, 2021, 10:26:38 PM
 #1

Bitcoin mining is one of the most lucrative activities in the Bitcoin network and so many mining firms are already taking advantage of the most technical aspects in Bitcoin and are already making remarkable profits one such Firm is, Riot Blockchain who have come out to announce it quarterly gains and in the 2Q of 2021, the publicly listed bitcoin mining firm have made a record-breaking 1540% increase after setting up an extra mining farm to increase they harsh rates which have resulted in the generation $31.5 million in Bitcoin-related revenue.
https://cointelegraph.com/news/riot-blockchain-reports-1-540-increase-in-quarterly-revenue-from-bitcoin-mining?fbclid=IwAR0-WMv_fF98As2LNt-iy0vS-NtoXe9fU39Da7aCBzgQvPVbUFtgomzz8ho
RILWAN
Member
**
Offline Offline

Activity: 742
Merit: 12

Global peace initiative


View Profile
August 27, 2021, 04:35:09 AM
 #2

Although the bitcoin market has been on a more stable level this week, record has it that this week has witnessed the highest number of confirmed transaction since the history of bitcoin. statistics have it that the record records the highest in transferring bitcoin between account and exchange, so am not surprise by the increase in miners revenue.

██                      ►          ⦁               1xBit.com     │     S p o r t s b o o k   &   C a s i n o               ⦁          ◀                      ██
                  WELCOME BONUS UP TO 7 BTC!                  ♣
██  ██████████████          ■                   30+ ALTCOINS AVAILABLE                   ■          ██████████████  ██
amishmanish
Legendary
*
Offline Offline

Activity: 1904
Merit: 1159


View Profile
August 27, 2021, 09:54:03 AM
 #3

Increase in revenue is due to their acquisition of another mining operator and power agreements to fuel those rigs. I am not sure if that should mean anything by itself.

It is still fascinating that several individuals and companies take the risk to go into Bitcoin mining which is a long term commitment once you invest so much. It takes courage and conviction to back a technology in a regulatory environment so full of uncertainties. From the way things have moved in the past few months with Dorsey, Saylor, Musk and others coming out in support of Bitcoin, its clear that USA will once again lead the way in technology adoption.

Additionally, with the Chinese pivoting to CBDCs and kicking out miners, the path for a truly free-market adoption of Bitcoin is clearer. More power to these miners, these individuals and corporations.
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!