The latest data suggests that the BTC miners accumulated as much as $1.7 billion in profits during the last month’s dramatic surge in the crypto market. Interestingly, despite the bullish run with Bitcoin touching its all-time high, the number is a little lower than that of March this year.
Amid the rising prices, Miners refrained from sending their minted coins to crypto exchanges earlier in April. As of now, the world’s most famous crypto coin is trading around $57,000. Moreover, the latest data suggests that as much as 14.50 percent of the revenue came from the gas fees – nearly $286 million. Since March 2018, the number is the highest fee-to-revenue ratio.
A highly profitable month for the crypto coin’s miners comes as the crypto market changes amid a decline in China’s dominance in the mining business. The change is mostly triggered by the growing acceptance and investment in North America and the growing demand for hardware from outside the world’s most populous country.
All in all, last month has been good for Bitcoin and cryptocurrencies generally, with major American retailers stepping forward in embracing the new technology.