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Total revenue raised from Bitcoin mining globally 2010-2016

Total revenue raised from Bitcoin mining worldwide from 2010 to 2016 (in million U.S. dollars)

by M. Szmigiera, last edited May 28, 2019
Total revenue raised from Bitcoin mining globally 2010-2016Bitcoin mining produced 2.1 billion U.S. dollars in revenue in 2016. This represents a 37 percent increase, which is slightly higher than the 2014 to 2015 increase but lower than the previous increases. This suggests that the demand for bitcoin miners is still increasing, but it grows more slowly than in the past.
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.
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Total revenue raised from Bitcoin mining worldwide from 2010 to 2016 (in million U.S. dollars)

Revenues in million U.S. dollars
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Revenues in million U.S. dollars
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by M. Szmigiera, last edited May 28, 2019
Bitcoin mining produced 2.1 billion U.S. dollars in revenue in 2016. This represents a 37 percent increase, which is slightly higher than the 2014 to 2015 increase but lower than the previous increases. This suggests that the demand for bitcoin miners is still increasing, but it grows more slowly than in the past.
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.
Show more
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