Bitcoin miners earned $368 million in August

Bitcoin miners’ revenues in August reached $368.3 million. The month-over-month rise stood at 23%, according to The Block.

The chart below shows miners’ revenues have risen for three consecutive months. The share of transaction fees in inflows is increasing.

Bitcoin miners’ revenues continue to rise. However the August figure is far from the levels seen in December 2017 or in the summer of 2019. Back then BTC price was higher and mining difficulty much lower than today. Data: CoinMetrics, The Block.

The share of fees in miners’ revenues in August was 10.7%. In July, this figure stood at 8.5%.

Ethereum miners last month earned $285.1 million in revenue. Month-on-month growth was 98.2%. This is the highest figure in the last 25 months.

In August, Bitcoin miners earned 1.3 times more than Ethereum miners. However the pace of income growth recently is much higher. Data: CoinMetrics, The Block.

The share of Ethereum miners’ revenues from transaction fees reached an all-time high of 40.5% in August. In May, for example, this figure was 10%.

Share of transaction fees in Bitcoin and Ethereum miners’ revenues. Data: CoinMetrics, The Block.

As of writing, the average transaction fee on the Ethereum network is $2.63; on the Bitcoin network, $2.17.

Data: Blockchair.

Earlier, Russian retailers and distributors reported rising sales of graphics cards suitable for mining cryptocurrencies.

Subscribe to ForkLog’s YouTube channel!