Bitcoin miners made $412.5 million in revenue during April, new data indicates

Bitcoin • May 8, 2020, 11:19AM EDT
The Block

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.

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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.

To read the full April report, subscribe to The Block Research.

About Author

Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.