Bitcoin miners made $412.5 million in revenue during April, new data indicates
May 8, 2020, 11:19AM EDT
1 min read
Bitcoin miners made 8% more revenue in April as compared to March, thanks to a gradual recovery in bitcoin's price.
Bitcoin miners generated $412.5 million in revenue in April as compared to $380.1 million in March. The figures are based on the assumption that miners sell their bitcoin holdings immediately and are drawn from the daily close price of bitcoin.
Source: Coin Metrics, CryptoCompare,The Block Research
As noted by The Block's Larry Cermak in his April by-the-numbers report, the vast majority of that month's miner revenue came in the form of block reward subsidies, which at this time is at 12.5 BTC per block. That number will fall to 6.25 BTC when the subsidy is halved early next week.
Transaction fees – which are paid by bitcoin network users to gain priority in transaction blocks – only accounted for about 1.5% of the total amount of revenue generated in April.