With Bitcoin surging above $ 48,000 and the highest transaction fees since January 2018, BTC miners’ earnings have grown significantly.
Bitcoin miners earned more than $ 4 million in one hour on February 11, according to analyst firm Glassnode. Analysts say this is the highest in Bitcoin’s history.
#BTC miners just made over $4 million in a single hour – the highest hourly miner revenue in Bitcoin’s history so far.
Chart: https://t.co/TIffXFCIZH pic.twitter.com/PmAAmTN6j3
— glassnode (@glassnode) February 11, 2021
Miners’ earnings add up from the block reward – 6.25 BTC, plus transaction fees paid by Bitcoin users. In block rewards, miners earn about 37.5 BTC per hour, sometimes more if seven blocks were mined instead of six. At today’s BTC exchange rate, this is about $ 2.1 million. A significant part of the miners’ income consists of transaction fees, which peaked from January 2018 to $ 25.46 on February 10, and dropped to $ 22.59 on February 11. If the trend continues, miners’ commission income could exceed the block reward.
As a reminder, BTC miners earned over $ 1.09 billion in January, the highest since December 2017, while ETH miners earned over $ 800 million in revenue, which exceeds the 2018 highs.
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