Bitcoin miners’ revenue rose for the first time in five months

In March 2022, bitcoin miners’ revenue rose by 14% from the previous month and amounted to about $1.2 billion. The indicator rose for the first time since October 2021, according to ForkLog report.

The share of fees in receipts stood at just over 1%.

Ethereum miners’ revenue continued its downward trend — in March receipts fell by 9%, to $1.63 billion.

Fees traditionally form a substantial portion of miners’ revenues for the second-largest cryptocurrency by market cap. But in March their volume fell about 40% compared with February — to $424 million. Growth in revenue from mined blocks by around 20% could not offset such a decline.

The share of fees in the overall metric dropped to 35.16%.

On the last day of March, Bitcoin mining difficulty reached an all-time high, hitting 28.58 T. The network’s hash rate stands at around 200 EH/s (a seven-day moving average).

As of April 1, the Foundry USA mining pool strengthened its lead in the network’s hashrate share—to 19.3%. Among its participants are large American mining firms traded on stock exchanges.

Analysts at Arcane Research noted that the share of public companies in Bitcoin’s hashrate reached 19%. In January the figure stood at about 3%.

Sponsor of the ‘Bitcoin Industry in Numbers’ column—the global blockchain ecosystem Binance.

In the first quarter of 2022, one of the largest mining companies in North America, Marathon Digital Holdings, mined a record 1,258.6 BTC.