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.
© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.