Bitcoin Miners See Record Profits in 2023 Rebound After Bear Market Slump
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Bitcoin miners earned a record $44M in a single day in November 2022, the highest daily revenue since April 2022.
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Several factors like bear market and regulations caused dip in miners' revenue between April 2022 and November 2023.
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2023 saw a trend reversal as crypto entrepreneurs helped regain investor confidence, driving up prices.
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Marathon Digital Holdings reported 670% increase in Q3 2023 revenue amid almost 5 times rise in Bitcoin production.
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Countries like Bhutan actively participate in Bitcoin mining using hydropower, negotiating partnerships to expand operations.