In just seven months, the total market capitalization of mining companies has increased from $20 billion to nearly $40 billion. This is despite the challenges posed by the reduction in block reward following the April halving.

As of November 27, miners are producing only 450 BTC daily, and total transaction fees remain below $946,000.

Transaction fees in the Bitcoin blockchain

Mining difficulty is constantly rising and is expected to increase by another 3% in the coming days. Each such adjustment makes block generation more costly and technically complex.

Throughout the month, the hashrate, the computational power required for transactions in the blockchain, has been steadily increasing, and by the time this article was written, it had already reached a record 726 EH/s. The higher this figure, the more challenging the conditions for mining.

Mining companies have to adapt to the prevailing conditions and diversify their activities. Many of them are integrating artificial intelligence and switching to high-performance computing. The largest public miner in the US, MARA, has adopted a strategy of replenishing its Bitcoin assets through the purchase of additional BTC.