Crypto Mining Has Become Less Profitable

Nishanth Shetty

October 10, 2018 4:35 pm

Bitcoin Mining

Crypto Mining Has Become Less Profitable | Coindelite News
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Bitcoin mining has been a great way for miners to earn the money. Bitcoin (BTC) miner revenues of 2018 have already increased. In spite of the growth, miners are now earning less profits.

According to the report, the rewards and fees for BTC miners have surpassed $4.7 billion within the first three quarters of 2018. Miners can still earn 54,000 Bitcoins monthly.

Bitcoin mining is more profitable for “big guns” as electricity price is continuously increasing. The statistics of the report shows that miners who pay retail electricity prices are observing less profits.

Check out the image  below:

The report stated:

“Bitcoin mining has, at least for now, and most likely in the future, moved into the court of bigger players with deep pockets.”

The report also claimed that major companies are adjusting their businesses based on the market. It is becoming harder for miners to earn more Bitcoins. The report further said that the electricity problem has become the major issues for the change.

Another research states that there ware more than 787,000 malicious cryptocurrency mining software. The number has increased from 74,500 to 787,000. The cryptojacking programs have detected legitimate mining tools and have misused dedicated malware.

The report also included that there are 47 new crypto mining malware ‘families.’ The new families are made by people who develop mining malware.

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