Bitcoin miners earned $971 million in revenue during July
August 1, 2021, 1:22PM EDT
1 min read
Monthly data collected by The Block Research shows that during the month of July, bitcoin miners hauled in just over $970 million.
The monthly total was $971.83 million, including transaction fees, per The Block's Data Dashboard. Transaction fees -- or the funds paid by users as they use the bitcoin network -- came in at $27.59 million.
The vast majority of the monthly revenue was in the form of subsidy earnings, with each new bitcoin block producing 6.25 BTC. Miners make profits when the cost of running a bitcoin mining operation is lower than the subsidies plus transaction fees they earn.
The monthly revenue figure represented an increase from June's $839.09 million, but still down from the all-time monthly high of $1.75 billion seen in March.
Bitcoin's price reached a high of $69,899 in mid-April, according to data from Coinbase.
In this example historical case study, Bitcoin mining with Blockware Solutions was a potential way to accelerate the returns of investing in Bitcoin in 2021. All data in this case study was sourced publicly from The Hash Rate Index (historical rig prices) and Glassnode (Bitcoin price and network difficulty).
Eric Adams, the mayor of New York City, made good on a previous pledge by receiving via automatic conversion his first paycheck in the form of cryptocurrency. According to a Thursday morning statement from the mayor’s office, Adams’ paycheck was converted into BTC and ETH. “New York is the center of the world, and we […]