Ethereum mining surpasses bitcoin in profitability for the seventh month in a row

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ETH’s fee and commission income also outperforms BTC.

Ethereum miners have surpassed the earnings of members of the bitcoin mining community in terms of earnings for the seventh month in a row. This is indicated by the data of The Block.

• In November 2021, Ethereum miners earned $ 1.99 billion.For comparison, members of the crypto community focused on mining the most capitalized cryptocurrency – bitcoin – generated income of $ 1.69 billion over the same period of time.

• The profitability of mining bitcoin in November 2021 decreased by 2%, compared to the results of October. The profit of Ethereum miners for the same period – on the contrary, increased by 11.8%.
• ETH mining income has been showing positive dynamics for 4 months in a row, and the earnings of Ethereum miners have surpassed those of the crypto community members focused on bitcoin mining for 7 months.
• At the same time, the cost of transactions on the ETH network is still significantly ahead of BTC. The difference is also reflected in the statistics of miners’ income. Crypto community members focused on mining Ethereum earn more on commissions than colleagues who prefer to mine bitcoin.

Recall that at the beginning of November 2021, information appeared on the network that the State Duma of the Russian Federation would create a working group to legalize cryptocurrency mining.

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