Bitcoin miners brought in more than $500 million in revenue during November
December 2, 2020, 5:28PM EST
1 min read
Bitcoin miners made roughly $521 million in revenue during November — a significant jump over the previous month's figure.
According to data collected by The Block Research, the November number represented a 47.9% increase compared to October's $352.57M in total Bitcoin miner revenue.
Generally speaking, miners earn money by successfully creating the next block of transactions, earning both the built-in subsidy — currently 6.25 BTC — as well as the combined fees paid alongside the transactions included in the block. Of the $521 million earned in November, nearly $55 million came in the form of transaction fees.
For more data-driven details about the month of November, read The Block Research's by-the-numbers crypto data breakdown.