Bitcoin miners made an all-time high revenue of $1.36 billion in February

Bitcoin mining total revenue surpassed $1.36 billion in February, according to data from The Block. That breaks the previous all-time high reached in December of 2017.


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A small portion of February’s total mining revenue — $186.4 million, or 13.7% — came from the transaction fees. The remaining $1.18 billion came from the network’s block subsidies, accruing in value as bitcoin broke $50,000 in price and $1 trillion in market capitalization for the first time in February.

Total mining revenue grew 21.4% from January’s $1.12 billion.

While equipment for Bitcoin mining experienced shortages in December, some mining infrastructure providers have recently announced their intention to expand operations. Compute North announced on February 12 that it raised $25 million to grow its team and facilities. And China-based Bitcoin mining firm Poolin announced it acquired its rival NovaBlock’s hashrate, which Poolin will use to expand across North America.

About Author

MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.