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Cryptocurrency 'pump and dump' scams at 'unprecedented' levels, research  finds

Bitcoin mining revenue is at $ 33 million per day, according to Glassnode’s CTO, Rafael Schultze-Kraft, a figure not seen since 2017.

This rate has soared to the point of being beaten for a total of five days during Bitcoin’s famous 2017 bull run in December 2017. This increase also represents a spike in revenue since Christmas.

“The bitcoin miners are very happy,” tweeted Rafael Schultze-Kraft.

On December 16, 2020, total Bitcoin mining revenue stood at $ 17 million, meaning total revenue has increased by more than 90 percent since Christmas.

However, this spike is not unprecedented. On December 18, 2017, the total Bitcoin mining revenue was just under $ 50 million. This spike came just a month after the sales figure was around $ 17 million.

Coinciding with the infamous price crash following the Christmas 2017 bull run, total Bitcoin mining revenue fell to $ 16 million in mid-February 2018.

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