Ethereum miners' revenue touched almost a two-year high in July

Mining • August 12, 2020, 6:10AM EDT
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Ethereum miners generated $143.8 million in revenue in July, representing a 23-month high, according to The Block Research.

Transaction fees made a chunk, nearly 23%, of Ethereum miners' revenue during the month, as noted by The Block's Larry Cermak in his latest report. In May, transaction fees accounted for only 10% of Ethereum miners' revenue.

Source: Coin Metrics, The Block Research

Bitcoin miners, on the other hand, generated $299 million in total revenue in July — that is almost twice of Ethereum miners' revenue. Bitcoin transaction fees saw a slight increase to 8% in July as compared to over 4% in June.

Last month, bitcoin miners' revenue touched a 15-month low due to halving that took place in May. The bitcoin halving cut the per-block subsidy from 12.5 BTC to 6.25 BTC.

To read the full July report and more such data-driven stories, subscribe to The Block Research.

AUTHOR

Yogita Khatri profile picture Yogita Khatri

Yogita Khatri is a senior reporter at The Block and the author of The Funding newsletter. As our longest-serving editorial member, Yogita has been instrumental in breaking numerous stories, exclusives and scoops. With over 3,000 articles to her name, Yogita is The Block's most-published and most-read author of all time. Before joining The Block, Yogita wrote for CoinDesk and The Economic Times. You can reach her at [email protected] or follow her latest updates on X at @Yogita_Khatri5.

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