Miners Earn $1.5Bn In Revenue As Bitcoin Holds Above $55,000

Bitcoin miners have enjoyed a record month of revenues in March, topping February’s previous high, as the price of the world’s largest crypto asset holds above $55,000.

Data collected by The Block Research shows that bitcoin miners have earned more than $1.5 billion in revenue this month, the highest total recorded.

With the month not yet over, miners' revenues have already surpassed the $1.36bn recorded in February.

The mining revenues come amid a sharp recovery for prices in March. Having traded as low as $43,000 per coin, they went on to rally more than 40% to trade above $60,000 by mid-March, before consolidating. The price currently sits at $55,159.

The vast majority of the funds earned in March, totaling $1.36 billion, were in the form of per-block subsidies, according to the research.

Bitcoin, Blockchain, Crypto, Cryptocurrency, Coin

Image Source: Pixabay

Cryptoasset firm Dragonfly Capital launches $225m fund

Cryptoasset investment and research firm DragonFly Capital has announced the launch of a new $225 million fund to invest in projects across the crypto space.

Following the success of the original $100 million fund kickstarted in late 2018, the Dragonfly Fund II will target four potential areas: decentralized finance (DeFi) protocols, non-fungible token projects, Ethereum Layer 2-based businesses, and centralized finance (CeFi) platforms. 

The San Francisco-based venture capital fund has been an early backer of notable projects such as ByBit, Compound, Celo, and Maker, among others.

First ever tweet by Dorsey sells for $2.9m as NFT

Twitter founder Jack Dorsey's first ever tweet sold last week for $2.9m (£2.1m) to a Malaysia-based businessman.

Sold as an NFT to buyer Sina Estavi, the tweet - which said "just setting up my twttr" - was first published on March 21, 2006, and was auctioned off by Dorsey for charity.

The tweet was bought using ether, the second largest crypto asset by market cap, with Dorsey saying he would convert the proceeds to bitcoin and then donate them to the Give Directly's Africa Response fund.

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Disclaimer: This article should not be taken as investment advice, personal recommendation, or an offer of, or solicitation to buy or sell, any financial instruments. This material has been ...

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