Revenues of Bitcoin and Ethereum miners collapsed

Revenues of Bitcoin and Ethereum miners collapsed

According to The Block, in June this year, the revenue of Bitcoin and Ethereum miners fell by almost half compared to the previous month.

Bitcoin miners received $ 839 million in June, up from $ 1.45 billion in May. The main reasons are the fall in the bitcoin rate and the decrease in the number of transactions. Bitcoin’s hash rate has also dropped 50% since its peak in May. Daily transactions dropped to nearly 200,000 from 300,000 in May. This level was last recorded in August 2018.

Revenue from Ethereum miners fell to about $ 1.1 billion in June from $ 2.35 billion in May. The reasons are absolutely the same. At the same time, about $ 166 million fell on transaction fees.

Interestingly, miners’ revenues are still higher than those of December 2020, when Bitcoin and Ethereum were worth about $ 20K and $ 1K, respectively. At the time of publication of the note, Bitcoin and Ethereum rates are about 33.7 thousand and 2.1 thousand dollars, respectively.

At the time of writing, Bitcoin is trading at around $ 33,300 and Ether at around $ 2,200.

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