Bitcoin Mining Revenue Remains Stable at $1.4 Billion in January
According to a recent report by Head of Research, Wolfie Zhao from TheMinerMag, Bitcoin mining revenue stayed consistent at around $1.4 billion in January.
Network Activity and Hashrate Growth
- Network activity reached 780 EH/s in January.
- The overall hashrate increased from 642 EH/s in September to 779 EH/s in December.
- Public mining companies, responsible for 35% of Bitcoin rewards, saw their market share decline to 30% in January.
Capacity Adjustments and Competition
Private operators and other firms adjusted their capacity in response to the evolving competitive landscape within the Bitcoin mining industry.
Impact of U.S. Hardware Imports
Customs restrictions led to fewer U.S. hardware imports in January, potentially contributing to slower hashrate growth among miners.
Performance of Key Players
- Only Iris Energy, Riot Platforms, and Canaan recorded month-over-month growth in realized hashrate.
- MARA led with 41.65 EH/s, representing 78.29% of its energized fleet.
- CleanSpark produced 626 BTC with 34.77 EH/s.
Bitcoin Holdings and Treasury Strategies
Public mining companies collectively held over 99,000 BTC by the end of January. Core Scientific increased its Bitcoin reserve, while HIVE Digital and Cipher Mining liquidated Bitcoin to fund investments.
Upcoming Difficulty Adjustment
The scheduled difficulty adjustment on February 23 is expected to see a decrease of 1.2%, as reported by TheMinerMag.
