According to the latest statistics, Bitcoin miners discovered 4,498 blocks in March 2023, generating 28,112 new bitcoins (worth approximately $712.12 million). Total mining revenue reached $734.78 million, the highest monthly figure since June 2022. Transaction fees contributed $22.66 million to the total.
Revenue Growth Continues for Four Consecutive Months
Monthly mining revenue has been rising steadily since December 2022: from $477 million in December, to $601 million in January, $627 million in February, and $734.78 million in March. This rebound reflects improving conditions for miners despite ongoing macroeconomic challenges.
The block reward portion accounted for $712.12 million (based on an average BTC price of ~$25,300), while transaction fees made up 3.1% of total revenue—slightly higher than previous months.
Hashrate Hits New All-Time High, Mining Pools Concentrate
The network's average hashrate over the past 30 days was approximately 341 EH/s, reaching an all-time high of 414.34 EH/s on March 25, 2023. This represents a 240% increase from April 2020, when hashrate first surpassed 100 EH/s. The current mining difficulty stands at 46.84 trillion, with the next adjustment expected on April 6, 2023, projected to rise by 1.20%–1.38%.
Among mining pools, Foundry USA maintained its dominance with a 32.64% hashrate share (~105 EH/s), mining 1,468 blocks (about 9,175 BTC). Antpool ranked second with 910 blocks (5,687.5 BTC). Together, these two pools controlled 52.87% of the global hashrate. Other major pools included F2Pool, Binance Pool, ViaBTC, BTC.com, Luxor, and Braiins Pool.
Outlook
Although the record hashrate signals intensified competition, the upward revenue trend may continue if Bitcoin prices remain stable or increase. However, smaller miners could face margin pressure if difficulty adjustments outpace price gains. Market observers will watch the upcoming halving in 2024 and its impact on block rewards.