Bitcoin Network Fee to Fall to 1 Satoshi per 1 Byte

Average commission fee for Bitcoin transactions is $ 1.23; in December 2017 it was $55
26 March 2018   1820

On March 26, the cost of the bitcoin transaction reached a record low. Users only need to pay 1 satoshi per 1 byte in order for their transaction to be included in the next block. In other words, now the transaction for a minimum commission will be confirmed in about 10 minutes.

Meanwhile, the average commission fee for bitcoins, according to bitinfocharts. com, is $ 1.23. Note that during the period of peak btc prices in December 2017, the commission for transfer of bitcoins reached a maximum of $ 55.

Among the reasons for the reduction of commissions, experts refer to the use of batch processing of transactions by large organizations and crypto-exchanges. In addition, the positive impact, they said, could be provided by the Segregated Witness scaling technology.

SegWit Transactions
SegWit Transactions

According to segwit. party, the number of SegWit-transactions continues to increase: at the moment they make up 30% -35% of all transactions in the bitcoin network.

Argo Blockchain to Report on x10 Revenue Increase

For the 2019, the company received Bitcoin mining revenue of £ 8.5 million, in 2018 it was £ 760,000
20 January 2020   97

Bitcoin mining company Argo Blockchain said this Monday that its revenue from its core business in 2019 increased 10 times. According to a press release on the website of the London Stock Exchange (LSE), where Argo shares are traded, for the first full year in business, the company received revenue of £ 8.5 million compared to £ 760,000 in 2018.

Argo listing on the main LSE market took place in August 2018. The data presented were not audited - the reports after the audit will be available in April.

The company clarifies that in the fourth quarter of 2019, it mined 432 bitcoins, which is six bitcoins higher than in the third quarter. However, in the last quarter, the company's revenue fell to £ 2.66 million, while in the third quarter it was £ 3.63 million.

Our mining operations continued to generate industry-best mining margin in the last quarter despite a softening in market conditions from the previous quarter. Our state-of-the-art mining platform is performing as expected and with the expansion of our mining network on pace, along with the recent rise with the price of Bitcoin, Argo is well-placed for a strong year ahead.

 

Peter Wall

Argo Blockchain CEO

 The company is increasing mining capacity in anticipation of halving and currently has 13,364 devices, including 6,375 Bitmain Antminer T17s, which were installed on January 1. By the end of the quarter, Argo intends to add another 3,625 of the same miners. It is estimated that with a full set of 17,000 devices, its computing capacity will exceed 650 petaheches.