Bitcoin miners’ revenue in February fell by 13%

In February 2022, Bitcoin miners earned 13% less than in the previous month. Total revenue was $1.06 billion.

The share of fees in revenue was just 1.24% — $12.9 million.

Bitcoin miners’ revenue has declined for the fourth straight month after peaking at $1.72 billion in October 2021. That figure came close to the March high of $1.74 billion.

A similar trend is evident in Ethereum miners’ revenue, which began to fall after November. It stood at $3.6 billion then, and by February had fallen to $1.8 billion. The month-over-month drop was about 35%.

Ethereum’s hash rate also reached record levels. According to Glassnode, on February 18 the smoothed 7-day moving average stood at 960.4 TH/s.

Earlier, the oldest Bitcoin mining pool Slush Pool directed part of its hashrate to support Ukraine and donated 10 BTC to the Come Back Alive foundation.

FlexPool, one of the largest Ethereum mining pools, has ceased servicing IP addresses from Russia amid the invasion of Ukraine.