Bitcoin miners post $1.4 billion in revenue for August, data shows
September 1, 2021, 5:32PM EDT
1 min read
Bitcoin miners brought in approximately $1.41 billion in revenue during the month of August, according to data compiled by The Block Research.
The monthly figure is below the all-time peak of $1.75 billion posted in March but represents a month-over-month increase -- roughly 45% -- from July's $971.83 million.
The vast majority of the August revenue figure came in the form of the block subsidy, or the 6.25 BTC received by a miner when they successfully create a block.
August marks the fourth month in a row during which the share of the transaction fee compared to the total bitcoin mining revenue fell. The transaction fee share dropped from 3.1% in July to 1.35% in August — an overall decrease of 56%.
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The Block Research was commissioned by Algorand to create Layer-1 Platforms: A Framework for comparison, which provides a “look under the hood” at seven platforms: Algorand, Avalanche, Binance Smart Chain, Cosmos, Ethereum/Ethereum 2.0, Polkadot, and Solana.
We assess their technical design, related ecosystem data, and qualitative factors such as key ecosystem members to get an understanding of how they differ. Having done this analysis, we draw some insights for what the future of the broader smart contract landscape could look like for years to come.