Bloomberg View called the turnaround “comeback of the year” as bitcoin was also the top performing currency of 2013, but the worst currency of 2014, feeding into the virtual money’s renowned volatility.
Along with the currency’s recent popularity has come the re-emergence of bitcoin mining.
Anyone with the technological resources and brainpower to solve complex computational problems can mine bitcoin, and get paid for their efforts in the digital currency, therefore creating more bitcoin in the market.
While mining became less popular as the rate fell from its peak of $1,137 in 2013 to $13 less than two years later, it seems that groups of miners that share computing power to harvest bitcoin more quickly are making a comeback.
BTCC told Bloomberg Business “Everyone in our pool is making money, because people who aren’t making money would not have their machines turned on”.