The total income of bitcoin miners in August amounted to $657 million, which is 10% more than in July and the first increase since March of this year.
The growth of income was facilitated by the growth of the hashrate of the network of the first cryptocurrency. As Kevin Zhang, senior vice president of mining strategy at Foundry, which operates the Foundry USA pool, noted, the heat around the world is starting to subside and miners are turning on the equipment. In addition, the manufacturer of mining equipment Bitmain is increasing the supply of more efficient Bitmain S19 XP devices.
The growth of the hashrate of the network of the first cryptocurrency also led to an increase in the difficulty of mining. After the last recalculation of the complexity of BTC mining, the indicator increased by 9.26% – this is the largest increase since January of this year.
As in other months, most of the profits of Bitcoin miners – $647.72 million – came from block rewards. From transaction fees, miners received only $9.24 million, which is about 1.4% of the total income. By comparison, ETH miners generated $725 million in revenue over the same period.
Recall that in August 2021, the total income of miners of the first cryptocurrency amounted to $1.4 billion. Thus, over the year, the income of mining companies decreased by more than 2 times.
Source: Bits
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