The largest bitcoin mining firm in canada by the name of Hut 8 said that its gained a whooping sum of $13.5 million in the past three months of trading period after mining. This is a record high revenue in the third quarter for the company.
According to the company, during the bearish period that took place in the crypto market, Bitcoin has managed to maintain high revenue and it’s still very profitable.
As at today, the cost of mining one bitcoin is $3,445 which is lower than the market value of BTC at $6,450. So, at the long run, there’s a massive profit in mining the Cryptocurrency, that’s if the price doesn’t fall after you’re done mining it.
Hut 8 also revealed that Revenue increased by 126 percent compared to the previous quarter revenue of just $5.9 million.
Although within the past 24hours the cryptocurrency world has experienced a little setback as the Top 10 cryptocurrencies lost some percentages to their worth. Bitcoin lost 0.97% of its worth, it went down to $6,385 from $6,457.
Bitcoincash went down to $568 from $599 losing 1.96%. Monero also lost 0.72% it went from $109 to $108. Eos and Ethereum lost 1.92% and 0.90% of their prices respectively. Eos went down to $5.393 from $5.534 while Ethereum went from $213 to $209.
Zcash is still the best performing again today again, making it two days in a row. It went high to $137 from $131 gaining 0.51%. Ripple also gained 1.38% as it went from $0.493 to $0.500 while Litecoin lost 1.08% of its worth, it went down to $51 from $52.