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However, Ethereum miners have overtaken the miners of the largest cryptocurrency in terms of income.
For 2021, the miners of the largest cryptocurrency received income in the amount of $ 15.3 billion, analysts at The Block Research calculated. They received this figure during the compilation of The Block 2022 Digital Asset Outlook Report.
Revenue from bitcoin miners grew by 206% and became a record for the crypto industry, according to the report.
The Block’s assessment is based on the assumption that miners are selling all of the mined cryptocurrency. It should be borne in mind that this is not always the case, analysts say.
The researchers cite a sharp jump in the price of bitcoin over the year as the reason for the growth. Recall that over the year, the value of the largest cryptocurrency doubled and in November reached a historic record of $ 69 thousand.
Income, calculated by TheBlock analysts, peaked in March. Then the miners earned about $ 1.75 billion, including $ 167 million in transaction fees.
It is noteworthy that the income of the miners of the second largest cryptocurrency, Ethereum, exceeded the income of the bitcoin miners. It grew 7 times and amounted to $ 16.5 billion.
See also: Ethereum mining has surpassed bitcoin in profitability for the seventh month in a row.
According to analysts, this is due to “significantly higher” revenue from transaction fees. The latter, in turn, grew thanks to the increased activity of the non-fungible token (NFT) market. Recall, Grayscale analysts have estimated the potential market of the metaverse at $ 1 trillion.
For other conclusions of TheBlock analysts and the main results of 2021 for the cryptoindustry, read the Bloomchain article.
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