In July, the miner earned almost a billion dollars on bitcoins, for the month their profit amounted to 971.8 million dollars.
This is more than in June – then the revenue was 839 million. This was reported by the portal The Block. However, the record was set in March – 1.75 billion dollars. Mining revenues have declined due to the actions of China, which has launched an offensive policy on cryptocurrency.
At the end of July, the price of bitcoin exceeded 40 thousand dollars per coin. However, in early August, the most popular cryptocurrency again fell below the psychological mark. Until Monday, August 2, one bitcoin was worth 39.27 thousand dollars.
The fall of the most popular cryptocurrency occurred after a big sell-off on world stock markets, as well as against the background of news from China. The People’s Bank of China has ordered the country’s major financial institutions to stop conducting cryptocurrency transactions. Some regions have completely banned the extraction of “crypts” on their territory.
As a result, the Chinese miner had to either stop production or move to other countries. If last fall in China accounted for 75 percent of the capacity used to extract cryptocurrency, then by the summer of 2021, China’s market share has fallen by almost 30 percent. So far, China still ranks first in the extraction of cryptocurrency, but the gap with Beijing has been significantly reduced by the United States, Kazakhstan.