Company updates

How to Get More with Bitcoin: Bitcoin Price, Difficulty and Miners Revenue

, October 10, 2014

When analysing Bitcoin market price, the miners’ revenue and the mining difficulty, certain consistent patterns become quite evident. Miners revenue flow highly resembles the development of the market price, indicating that the market price significantly depends on the miners’ rewards. The higher the reward, the higher the price. For example, the peak of the BTC price in December 2013 corresponds with the elevation of the miner’s revenue within the same period. Although the miners revenue echoes with the overall features of the market price, the first one is much more volatile, whereas the market price shows more stability and does not demonstrate such drastic and frequent change.

Since January 2014, we observe gradual decline of BTC market price and the miners revenue. This tendency is mostly caused by the significant increase of the mining difficulty. Comparing to January 2014, current Bitcoin mining process requires much more computing power, which results in higher expenses, namely electricity costs. The current mining difficulty (October 1, 2014: 34,661,000,000) remarkably exceeds the mining difficulty of January 1, 2014 (1,180,900,000). The difficulty has increased by nearly 30 times (29,3513421966297 to be precise). Therefore, as the difficulty increases, the mining revenue drops simultaneously bringing down the market price. Bitcoin price, the mining difficulty and the miners revenue show true features of interdependence and require constant analysis and research.

Related

Company updates

Summer Bitcoin Conferences Digest 2017

Summer is a hot time not only because of weather but also in terms of Bitcoin and blockchain conferences. Hereby, we present kind of a digest of the most interesting events in the industry, which we are pleased to partner with. 1. Blockchain Expo Berlin When: 1-2 June, 2017

May 30, 2017 | 9 min read
Company updates

Recommended: Events to Visit in Spring 2019

Each year hundreds of conferences take place to discuss the issues related to the future of blockchain technology and cryptocurrencies. Crypto enthusiasts, business representatives, regulatory bodies frequently come together to see where the whole sphere moves. If you want to visit one of them, check some of the events

Nov 16, 2018 | 34 min read
Company updates

2022 Awards and Accolades: A Year in Review

With 2022 sliding into the rear-view, we took a look back at some of the awards and accolades that kept us inspired during this difficult year.

Dec 22, 2022 | 6 min read