Bitcoin miners mined a total of $9.45 billion in Bitcoin throughout 2022, a 43% drop from 2021, when the figure stood at $16.7 billion.
The indicator has reportedly fallen due to the cryptocurrency's falling price, as well as growth in its hashrate (+47.7%) and complexity (+46%). At the same time, Bitcoin miners' revenue amounted to $477 million in December, up 1% from November.
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Notably, fee income stood at $142.2 million last year, down 86% from a year earlier, when these earned about $1 billion, due in part to lower average transaction fees amid low blockchain activity during the bear market.
The falling BTC price, rising hashrate and difficulty of mining put pressure on the hash price. The indicator has updated record lows, falling to $0.055 in early November. As a result, public mining companies sold almost all of the Bitcoins mined in 2022.