Glassnode data analyzed by CryptoSlate analysts suggests that rising Bitcoin (BTC) price also increases miner profitability and revenue, which have been historical pointers for market bottoms.

CryptoSlate looked into the Difficulty Regression Model and Miner Revenue vs. Yearly Average comparison metrics to evaluate miners’ profitability. While both metrics agree that things are going swimmingly for BTC miners, the ASIC Rig profitability metric revealed that the hash rate reached a new all-time high.