Mr Cash
Banned
2021 has been a stellar year for crypto, which must also mean it’s been a stellar year for miners. And to a large extent, it was, with miners pocketing USD 3bn in revenues from Bitcoin (BTC) mining in the month of April alone.
But while transaction fees paid to BTC miners increased by over 750% year-on-year in the second quarter of the year, it doesn’t tell the whole story when it comes to crypto mining in 2021. It also doesn’t tell the whole story when it comes to mining in 2022.
Because while industry figures generally agree that miners will continue reaping significant revenues this year, they also report an expectation that competition will heat up in the sector. This will result in more companies — including energy companies — entering the market, as well as more investment in newer mining technologies.
But while transaction fees paid to BTC miners increased by over 750% year-on-year in the second quarter of the year, it doesn’t tell the whole story when it comes to crypto mining in 2021. It also doesn’t tell the whole story when it comes to mining in 2022.
Because while industry figures generally agree that miners will continue reaping significant revenues this year, they also report an expectation that competition will heat up in the sector. This will result in more companies — including energy companies — entering the market, as well as more investment in newer mining technologies.
