Bitcoin miners earned $1.72 billion in October
Bitcoin miners earned $1.72 billion in October, roughly matching the record March figure ($1.74 billion). This is according to ForkLog’s October analytical report.
October’s Ethereum miners’ revenue reached a record $2.9 billion, including $1.34 billion in transaction fees (46.2% of total revenue).
In October, Bitcoin’s total hash rate rose by 2.42% as the price climbed. The smoothed seven-day moving average as of October 29 reached a record of 163.61 EH/s.
The Ethereum hash rate also hit new highs. Over the past month the ETH-related metric rose by 6%, and its all-time high was recorded on October 25 at 746.12 TH/s.
Against the backdrop of NFT hype and growth in the DeFi segment, the average Ethereum transaction fee again surpassed $50. The last time the metric was at these levels was in early September, and before that — in May.
Average BTC- and ETH- transaction fees dynamics. Data: Glassnode.
The average fee per Bitcoin transaction remained mostly in the $3–$4 range.
On Monday, November 1, after another adjustment of mining difficulty, Bitcoin’s mining difficulty rose by 7.85% to 21.66 trillion hashes. This marks the eighth consecutive increase since the Chinese ban.
Earlier, Kazakhstan’s President Kassym-Jomart Tokayev ordered immediate legislative regulation of mining.
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