ut of the $291 mln Bitcoin miners earned in April, $14 mln was solely attributed to the network fees that continue to rise
Cryptocurrency mining was considered to be dead, but April proved everyone wrong. Last months, miners have managed to rake more in more than $291 mln, according to the latest Diar issue.
A dead cat bounce
The aforementioned figure marks a $100 mln increase compared to February when Bitcoin mining reached its lowest point. Overall, this is the richest miners have been since October 2018 before the crypto carnage that took place in December and resulted in Bitcoin hitting its rock bottom.
The mining uptick is inextricably linked to Bitcoin’s stellar rally in April. On Apr. 2, the price of the BTC price spiked by 20 percent. The king of crypto, despite a few bumps in the road, has managed to maintain its momentum, currently aiming for $6,000.