Mining yield increased by 48%, as profitable to extract BTC?- New day crypto

In November, compared to October, the total income of bitcoin mining increased by 48%.

Reasons for this growthTwo:

First, a sharp increase in the price of crypto assets,
secondly, a significant increase in the number of transactions, which led to an increase in the commissions of miners.

Currently, rewards of 6.25 bitcoins are distributed to miners every 10 minutes.In October, about 27,000 BTC were generated and distributed to miners, which at an average price of $11,800 correspondsabout $318 million.

In November, about 28,000 bitcoins were created, which at an average price of $16,500 was $462 million.Thus, the increase was 45%.

Of course, reducing the complexity of production has also had an effect, but more impact hassignificant price increase.

As for the volume of transactions, and therefore commissions, from October 25 to November 2 there was a strong decline.If before that the number of daily transactions almost always exceeded 320,000, from October 25 it decreased to 280,000, returning above 320,000 only on November 3.

In addition, at the end of November was the highest peak of daily BTC transactions in recent months - almost 380,000 transactions in a single day.

This means that the total commissions paid to miners in October were not only lower than in November, but also lower than in the previous two months.

The price boom in November led to a real fee boom, probably because users were rushing to move their bitcoins by selling them at a high price and then buying them at a discounted rate.In fact, since January 2018, miners have not been paid so many commissions.

As a result, the total increase in bitcoin miners' incomes in November was 48% higher than in October, which inevitably led to an increase in hashrate after the fall in October.

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Cloud mining — the best Bitcoin mining option for 2020

Cloud mining is a model of earningcryptocurrency, which creates groups (mining pools), with one goal: to generate more income, in comparison with conventional distributed mining, due to the management of equipment by a contractor who solves all issues related to technical and software components.

The user pays for the work of the rented equipment for a certain period of time.Cloud mining for the received payment should ensure round-the-clock operation of its equipment with conditional capacity, ensuring the accrual of earned cryptocurrency on the wallet of the tenant who paid for the services of cloud mining.

Cloud mining setup does not requirea productive computer or knowledge in the field of blockchain and cryptocurrencies in general. Setting up in this case consists in going through the standard registration procedure on the pool, depositing money (usually ordinary money or bitcoins) and choosing a tariff plan. Then the user specifies the address (personal wallet) where the mined cryptocurrency will be withdrawn.

Rating of TOP-5 cloud mining services (with actual estimates for December 2020)

Service	Rating	Detailed overview
IQ Mining (Editor's Choice!)	9.5	Read the review
ECOS	7.2	Read the review
YoBit VMining	7.0	Read the review
BitDeer	6.4	Read the review
HashFlare	6.3	Read the review

The criteria by which the score is given in our rating:

Profitability and profitability– we calculate the payback period, clarify the reality of mining.
Prices and commissions– we take into account the validity of tariff plans and compare them with competitors.
Deposit / withdrawal, discounts, reliability– we analyze reviews, test the correctness of accruals and withdrawals.
Convenience of the platform and site– we evaluate the functionality, errors and failures when working with the service.
Features of the company– unique services and useful services, period of work on the market.
final grade– the average number of points for all indicators determines the place in the ranking.