“If we sum up the block rewards of the actually mined blocks over the observation period of four weeks, we find that Coinhive earned 1,271 XMR. Similar to other cryptocurrencies, Monero’s exchange-rate fluctuates heavily, at time of writing one XMR is worth $200, having peaked at $400 at the beginning of the year,” the report states, “Thus, given the current exchange-rate, Coinhive mines Moneros worth around a quarter million USD per month of which they say, they give 70% to their users. Still, the operational costs seem manageable, making it potentially profitable for Coinhive.”
Where is all the mined Monero (XMR) going?
According to the report,Coinhive’s link forwarding service is dominated by links from just 10 users. They are mostly redirecting it to streaming videos and filesharing sites. Most short links can be resolved within minutes, however, some require millions of hashes to be computed which is infeasible.
See also: Is it a good time to buy Monero (XMR)?
“This link redirection monetization is comparable to short link services delaying the redirection while serving advertisements and paying the link creator a commission,” the report explains. “With Coinhive, the creator of the short link receives a share of the block reward that is mined by the users visiting the short links.”
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