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Tuesday, May 21, 2024

Cryptocurrency mining revenue increase in August

Cryptocurrency mining has been extremely difficult in 2022, due to various factors, like bear market, ecosystem collapses and loss-making investments. June 13 was the lowest revenue day, yet a month later miners observed a 68.63% increase., which means the change from $13.928 million to $23.488 million.

Bitcoin revenues update

On July 13, miners could have thought cryptocurrency mining is no longer profitable, and together with high operational costs, they could have started doubting it’s really worth the effort.  A month later, on August 12, the moods changed completely, with an increase of 69%. Money miner payouts, hash rates, network difficulties, and network difficulties have all recovered in the Bitcoin system.

Mining equipment prices have fallen, allowing several major players to expand their operations further, thereby reducing the average cost of mining one bitcoin and contributing to the positive growth in revenues. It has also positively influenced the value of shares of major cryptocurrency mining companies.

Financial institutions to start cryptocurrency mining

The further growth of cryptocurrency mining is expected according to the survey published by Ripple. The survey found that 76% of financial institutions intend to use cryptocurrencies in their operations within 36 months. Up to 65% of survey respondents are willing to start cryptocurrency mining, if the services are provided by the local financial institutions.

New hosting data center

Cryptocurrency mining wouldn’t be possible for many investors, who lack the specialist equipment, space for the equipment or knowledge how to invest and mine for cryptocurrencies and earn money.

The solution for them is a mining center, like the one offered by the cryptocurrency mining company called ECOS. The center is located at Hrazdan Power Plant in Armenia, and has lots of special features.

This Free Economic Zone offers you minign hosting services, such as  0% taxes for export or import, 0% taxes for income, military guards, best partners, 100% legal business for miners, 100% stable maintenance, Local Maintenance Center.

The benefits of cloud mining

Cloud mining is the process of leasing companies equipment facilities, so you can invest into cryptocurrency mining without investing and maintaining your equipment. Simply choose a cloud mining provider’s contract to start investing, and you don’t have to worry about the software, electricity, and maintenance.

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