Ethereum miners have seen higher revenues than Bitcoin miners for three months in a row, the longest stretch in history.
According to The Block’s Data Dashboard, Ethereum miners brought in $1.03 billion in revenue during July, a slight decline from the previous month.
In their turn, Bitcoin miners brought in $971.8 million in revenue last month — more than $100 million compared to June.
While transaction fees have remained a significant source of income for Ethereum miners, the same cannot be said for Bitcoin. Transaction fees accounted for just 3.1% of Bitcoin mining revenue last month.
Mining revenue is a dollar value estimate of the proceeds made by blockchain miners. It’s calculated by taking the current mining rewards, plus transaction fees per block and multiplying that by the price of the asset during the month. It does not take into account any costs, such as electricity, other operating costs or taxes paid by miners.