Bitcoin Bull Run Set Up? BTC Miners 30 Day Avg Revenue Jumps

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Bitcoin News: Bitcoin (BTC), the world’s biggest cryptocurrency managed to regain the much anticipated $30k price level in the second week of April leading altcoins to rally. The recent BTC price surge comes as a relief for the Bitcoin mining firms as their 30-day average mining revenue breached the highest returns since June 2022.

Also Read: Ripple Facing Trouble Over Its New Project Due To XRP Lawsuit?

Bitcoin Miners Revenue Jumps

According to reports, the 30 days average mining revenue stood at $27.34 million a day attaining the highest level since June 2022.

Blockchain.com data depicts that on June 1, 2022, Bitcoin was trading around an average of $31K, while miners’ revenue stood around $27 million. However, On April 17, 2023, Miners’ revenue was recorded to stand around $29.78 million while the Bitcoin price closed trading at $30.3K.

BTC miners saw some tough times as their revenues declined to stand between $15 million to $21 million in the 3rd and 4th quarters of 2022. However, it is still miles away from its peak of $70.63 million in revenue recorded on May 2, 2021. Read More Bitcoin News Here…

Bitcoin price has surged by 79% on the basis of year to date (YTD). This has marked a big recovery from the lows registered in 2022. BTC is trading at an average price of $29,789, at the press time. Its 24 hour trading volume is up by 12% to stand at around $17 billion.

Also Read: This On-Chain Bitcoin Indicator Hints Huge Bullish Potential, Is Bear Market Over?

The post Bitcoin Bull Run Set Up? BTC Miners 30 Day Avg Revenue Jumps appeared first on CoinGape.

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