Bitcoin miners’ revenue rose in July for the first time in four months

In July, the combined income of Bitcoin miners amounted to $972.6m, up 16% from June.

The share of transaction fees fell to 2.94%. In absolute terms ($27.8m), the figure dropped to its lowest since September 2020.

Block-reward revenues rose (from $797m to $944.9m), aided by a rise in bitcoin to $42,000 after renewed testing of $30,000.

Ethereum miners’ revenues declined by 2% to $1.08bn. The share of fees in monthly receipts rose from 17% to 22% — from $165.8m to $201.2m. This softened the decline in block-reward receipts from $939.8m to $879m.

London hard fork is expected to take place on August 4 in the Ethereum network.

As part of the forthcoming upgrade, the EIP-1559 proposal would burn a portion of transaction fees depending on network load.

The controversial EIP-1559 has received support from developers and users, but divided miners into two camps.

Opponents of the proposal, including the pools SparkPool and Ethermine, controlling 44.8% of the network’s hashrate, wanted to concentrate in the latter more than 51% of computing power. However, their attempt failed. Earlier, the main Ethereum test networks successfully underwent the London upgrade.

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