Ethereum miners outpaces Bitcoin miners in revenue for seventh straight month in November
December 6, 2021, 3:29PM EST
1 min read
Ethereum mining revenue outperformed that of Bitcoin for the seventh consecutive month in November, according to The Block Research.
Last month, Bitcoin miners earned $1.69 billion, a 2% decrease month-over-month. Ethereum miners conversely saw revenue of $1.99 billion — an increase of 11.8% compared to October — and overall earned 1.18 times the revenue of Bitcoin miners in November, in dollar terms.
To see how NFTs, spot volumes, stablecoins and other crypto stats fairs in last month, check out The Block Research's "November by the numbers" breakdown.
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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.