Bitcoin Accounts for Over 80% of All PoW Mining Rewards

• New data shows that Bitcoin’s share of total crypto mining rewards has risen 250% in 2.5 years

According to new data, the dominance of Bitcoin in the mining world has been steadily increasing, rising 250% since the middle of 2017. Now Bitcoin’s share of total crypto mining rewards is over 80%.

Bitcoin miners are paid > 15 million dollars/day as incentive to secure the network

This makes up > 80% of total miner salary across all major PoW coins

Since mid-2017, Bitcoin’s miner salary share has increased ~250% and is nearing pre-Ethereum levels pic.twitter.com/8OkSwrfIDf

— Yassine Elmandjra (@yassineARK) January 10, 2020

In other words, over 80% of all the money earned by crypto mining is earned by Bitcoin miners, while all types of altcoin mining have decreased to below 20% of global mining revenue. This has been led by a drop in the profitability of Ethereum mining, which at one point had a larger mining share than Bitcoin, but has now nearly completely withered up. Also, Litecoin, Zcash, and Bitcoin Cash mining has lost dominance in the mining world as well.

Overall, this data shows that Bitcoin has once again become the king of crypto mining, like it was during most of the history of cryptocurrency. Essentially, Bitcoin lost its mining dominance during the initial coin offering (ICO) boom of 2017, but now the ICO boom has ended and Bitcoin is back on top.

 

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