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Bitcoin miners' income rebounds, block difficulty hits new high, Zhao Changpeng: Bitcoin is the greatest business model

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Bitcoin Miner Revenue Rebounds, Block Difficulty Hits All-Time High

Benefiting from the recent surge in popularity of Ordinals and BRC20, the increased activity on the Bitcoin network has led to a significant rise in miner revenue.

According to Blockchain.com, miner revenue has surpassed $40 million.

In addition, the mining difficulty of Bitcoin increased by 3.55% to hit a new all-time high after adjusting on November 12th at block height 816,480.

This marks the fifth consecutive increase in mining difficulty since September 19th, indicating that not only retail traders are trying to profit in the recent trading markets, but miners of all kinds are actively contributing hash power to share profits. The mining difficulty is expected to adjust again on November 27th.

CZ also retweeted the data on miner revenue.

Changpeng Zhao: Bitcoin is the Greatest Business Model Ever

CZ's tweet stated:

Bitcoin is the greatest business model ever, creating immense value for creators assuming Satoshi will never move/use these tokens, miners, other industry participants, and holders.

However, there are discrepancies in the overall earnings of Bitcoin miners on various websites. Twitter user @MadsEberhardt bluntly stated that CZ publicly retweeted misinformation.

In fact, based on the current block reward of 6.25 BTC produced every 10 minutes, it has already exceeded $32 million. However, CryptoFees.info and TokenTerminal both show that on-chain transaction fees amount to around $3-4 million.

It seems there is still some discrepancy between on-chain transaction fees, block rewards, and the $44 million total.

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