Total revenue raised from Bitcoin mining globally 2010-2019

Bitcoin mining produced five billion U.S. dollars in revenue in 2019. This represents a 26 percent decrease, but their revenues increased almost 65 percent between 2017 and 2018. This suggests that the demand for bitcoin miners is overall increasing, but this growth remains volatile.

What is bitcoin mining?

Bitcoin relies on a technology called blockchain, which is a distributed ledger system. This means that bitcoin records every transaction on every coin, making theft much more difficult. Miners lease their computational power in exchange for a small amount of bitcoin.

Reasons for mining

Bitcoin mining is an investment, weighing the cost of energy and hardware against the expected returns. Mining pools, or groups of miners, tend to be located in regions where electricity is inexpensive. These miners also follow different virtual currencies, mining the cryptocurrency that they expect will have the highest return.

Total revenue raised from Bitcoin mining worldwide from 2010 to 2019

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Sources

Release date

January 2020

Region

Worldwide

Survey time period

2011 to 2019

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Statistics on "Bitcoin"

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