Bitcoin mining revenue has hit a new yearly high, as the price of the cryptocurrency surged this week amid widespread excitement surrounding the possible approval of a U.S. spot Bitcoin ETF by the SEC.

Per data from Blockchain.com, BTC mining revenue hit $42,386,514.038 on November 9, topping its previous yearly high of $41,744,197.067 set on May 8, 2023. For context: That’s even higher than mining revenue was during the Ordinals craze in May.

The spike in mining revenue came as BTC’s price surged to more than $37,000 on November 9, fueled by mounting anticipation of the possible approval of a U.S. spot Bitcoin ETF by the Securities and Exchange Commission (SEC).

BTC’s price currently stands at just over $37,200, up 7.5% on the week.

“Bitcoin miners earn more when two main fact

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Author: Stephen Graves

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