Ethereum's $800 million January mining revenue surpasses 2018 highs
February 1, 2021, 1:59AM EST
1 min read
Ethereum miners have brought in $800 million in January revenue, which surpasses the previous record highs seen three years ago.
The Block's Dashboard data shows that more than $311 million of Ethereum's January mining revenue came from transaction fees on the network, which accounted for nearly 40%.
The increase of transaction fees and the price surge of Ether to all-time-highs above $1,400 last month have pushed Ethereum's January mining revenue to surpass the previous record highs of $762 million seen in January 2018.
Ethereum miners' daily revenue per each megahash second (MH/s) of computing power also hit a level that is not seen since early 2018, based on The Block's Dashboard.
According to F2Pool's index, the most advanced Ethereum mining equipment on the market, such as Nvidia's RTX 3080 or ASIC miner A10 Pro made by Wuhan-based InnoSilicon, is able to generate $62 in 24-hour gross profits per unit.
But similar to bitcoin miners, GPUs and ASIC miners on the Ethash algorithm are experiencing a significant supply shortage, which is causing headache for game players who are in need of Nvidia and AMD GPUs.
Bitcoin's monthly mining revenue in January also hit its highest record since December 2017, per The Block's Dashboard.