Bitcoin Mining Stats 2023-2022
As the world’s most popular cryptocurrency continues to grow, so too does the Bitcoin mining hosting industry. In this blog, we break down the latest developments and predictions in the world of Bitcoin mining, providing an in-depth look at the industry in 2023. Experts have estimated that 14 million miners will be competing for Bitcoin in the next couple of years, creating massive opportunities for profits and innovation. Get the facts on the estimated ROI, electricity costs, and other key metrics that make up the global Bitcoin mining landscape in 2023.
- In 2023, there will be an estimated 14 million bitcoin miners worldwide according to CoinGeek. (https://coingeek.com/global-bitcoin-miner-estimate-surges/)
- The estimated ROI period for bitcoin mining in 2023 will be 11.5 months. (https://www.cryptobriefing.com/calculate-bitcoin-mining-roi/)
- Transaction fees associated with the mining of Bitcoin in 2023 will be around $0.78 compared to $3.50 in 2018. (https://www.businessinsider.com/)
- The global average electricity cost of mining a single Bitcoin will reach $9,383 in 2023. (https://www.theblockcrypto.com/)
- It is estimated that China will hold about 66% of mining power in 2023. (https://uploads.strikinglycdn.com/files/d615c159-b8f0-49c5-a90f-862c55994543/How%20Much%20of%20the%20World’s%20Bitcoin%20Mining%20Power%20Does%20China%20Take.pdf)
- A total of 68 countries were estimated to have mined Bitcoin in 2023. (https://cointelegraph.com/news/where-is-bitcoin-mined-the-top-countries-mining-bitcoin-in-2023)
- The hash rate of the Bitcoin network is estimated to increase by more than 35 times its current rate by 2023. (https://thetokenist.io/)
- Bitcoin miners are projected to generate $14 billion in revenue in 2023. (https://www.statista.com/)
Antminer S19 is expected to be the most widely used miner in the world in 2023. (https://www.techradar.com/news/what-is-an-antminer-s19-and-how-will-it-transform-bitcoin-mining) - By 2023, ‘Smart Mining’ using renewable energy to mine Bitcoin is expected to become widespread. (https://medium.com/@onclusion/smart-mining-strategies-for-future-bitcoin-mining-d51dd2ff3583)