Last week saw an increase in bitcoin transactions to the highest level in 18 months. On March 9, the seven-day moving average of miner profits rose to $68.28 million. As the value of Bitcoin kept rising over the weekend, mining revenue for BTC hit a record high. According to data from The Block, on March 9th, the average miner profits over a seven-day period reached $68.28 million. This amount exceeded the previous record of $67.15 million, which was established on May 6.230. Revenue continued to rise on Sunday, reaching $68.35 million. The following day, Bitcoin reached a record high price of $72,711. Based on data from CoinMarketCap, it rose by 5% in the day leading up to Tuesday afternoon in Asia, but has since fallen back to hover around $72,000 in trading value. The introduction of new spot Exchange-Traded Funds (ETFs) has broadened institutional investors’ ability to invest in Bitcoin, leading to its recent surge in value. The approval of spot bitcoin ETFs in the U.S. earlier this year resulted in a price increase of over 230% compared to the previous year. Last week, the number of Bitcoin transactions reached its highest level in 18 months. According to data from TheMinerMag reported in Bloomberg, 13 major Bitcoin mining companies have ordered mining equipment worth over $1 billion since February 2020, showing a rush among miners to take advantage of the current surge in Bitcoin prices. The anticipation for Bitcoin’s fourth halving event, set to occur in approximately a month, is also contributing to its recent rise in value. In April, Bitcoin is expected to experience its next halving event, which will decrease the supply growth by reducing miner rewards from 6.25 bitcoin per block to 3.125 bitcoin. Recent crypto news has focused on this upcoming event.