Bitcoin miners score their second-highest month of revenue ever with $1.72 billion in October
November 1, 2021, 10:09AM EDT
1 min read
Bitcoin miners hauled in $1.72 billion in revenue during October, new monthly data shows, the second-highest level on record.
That figure edges out April's $1.7 billion but doesn't quite exceed the all-time monthly high of $1.75 billion reported for May, as shown in the graph below.
Likely buoying the October figure was bitcoin's rise to a new all-time high above $66,000. The cryptocurrency's price hit a high of $66,909.15 on Coinbase during that period.
The vast majority of the revenue came in the form of block subsidies -- amounting to 6.26 BTC per transaction block. Transaction fees represented a paltry 1.62% of the total monthly revenue, or $27.47 million.
That continues a trend seen since the end of the summer, though the October transaction fee figure represents a three-month high for fee-related income.
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).