According to data compiled by The Block Research, bitcoin mining revenues rose 10% in August, the first month of positive growth since March.
With improved performance last month, miners generated about $657 million in revenue.
On Wednesday, Bitcoin mining difficulty increased by 9.26%, while the hash rate increased by more than 13% over the same period.
The increase in hashrate is due to “a combination of heatwaves that are finally subsiding globally and objects that are slowly coming online,” said Kevin Zhang, senior vice president of mining strategy at Foundry. In addition, the more powerful Bitmain S19 XP is finally on the market!
The majority of bitcoin mining revenues come from block rewards ($647.72 million) and only a small portion from transaction fees ($9.24 million). The share of BTC transaction fees in total revenue fell to about 1.4%.
Ethereum miners last earned $725 million, which is 1.1 times more than the income of bitcoin miners in August.
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