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.
Last month was extremely profitable for Bitcoin and Ether miners – their total revenue exceeded $ 1.89 billion.BTC miners earned more than $ 1.09 billion in the first month of 2021, which was the highest since December 2017.
The revenue of bitcoin miners last month exceeded the level of January 2018 – $ 1.02 billion. The highest monthly income of BTC miners was recorded in December 2017 – more than 1.25 billion at the peak of the bull market.
Of the $ 1 billion in revenue last month, $ 977 million came from subsidies in each block mined, the value of which has skyrocketed from December 2020.
ETH miners generated $ 800 million in revenue in January, exceeding record highs recorded three years ago. According to The Block, more than $ 311 million – almost 40% – came from online transaction fees.
The rise in transaction fees and the spike in the price of ETH to all-time highs above $ 1,400 have driven Ethereum miners’ January revenue to surpass the previous all-time high of $ 762 million recorded in January 2018.
Recall that on January 8, the price of bitcoin for the first time in the history of the cryptocurrency market exceeded $ 41,000, and the market capitalization of Ethereum reached a record high of $ 143.5 billion.
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