Ethereum miner revenue higher than Bitcoin's for third month running

advertisement

Ethereum miners have seen higher revenues than Bitcoin miners for three months in a row, the longest stretch in history.

According to The Block's Data Dashboard, Ethereum miners brought in $1.03 billion in revenue during July, a slight decline from the previous month.

In their turn, Bitcoin miners brought in $971.8 million in revenue last month — more than $100 million compared to June.

While transaction fees have remained a significant source of income for Ethereum miners, the same cannot be said for Bitcoin. Transaction fees accounted for just 3.1% of Bitcoin mining revenue last month.

Mining revenue is a dollar value estimate of the proceeds made by blockchain miners. It's calculated by taking the current mining rewards, plus transaction fees per block and multiplying that by the price of the asset during the month. It does not take into account any costs, such as electricity, other operating costs or taxes paid by miners.

Trending Stories

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.

Will Sanctions Drive Russia into the Arms of Cryptocurrencies?

From the removal of many Russian banks from SWIFT to a seemingly constant flow of new sanctions, Russia’s invasion of Ukraine has left many to wonder: Is the country likely to lurch towards cryptocurrencies? And if so, what does this mean for businesses that are holding and/or using crypto? Crypto and sanctions evasion Although crypto […]
Read Full Story
Sponsored Post

Layer-2 Scaling Solutions: A Framework for Comparison - Commissioned by Polygon

Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.
Read Full Story
May 5, 2022, 3:17PM UTC
More