Bitcoin miner revenues see growth after hitting a 19-month low

Although bitcoin miners revenues hit a 19-month low in February, this month has finally seen a small raise, Diar reports. February was tough for bitcoin miners—they noted a 10 per cent decline in revenues when compared to the beginning of 2019. Even those who have access to the best equipment and pay wholesale electricity prices needed a lot of hash power just to note gains. Without the newest equipment, smaller miners have been very likely to note losses.

Due to the increase in the number of miners, gross margins fell from 94 per cent, noted at the beginning of 2018, to just 32 per cent in only a year's time.

Diar writes Bitmain’s newest Antminer s15 has already sold out and the next shipments are planned in April; if bitcoin prices don’t fall lower, the expense will still pay off. According to Diar, the “the S15 averaging 84% more return than its predecessor, the S9.”