Reading time: ~2 m
Ethereum miners continue to outperform Bitcoin miners in terms of revenue.
March proved to be a fruitful month for Ethereum miners. While the EIP-1559 update has changed the way miners are rewarded, it hasn’t slowed down their earnings growth. In March, the miners of the second largest cryptocurrency by capitalization earned $1.34 billion, up 7% from February, when their total income was $1.25 billion.
Bitcoin miner revenue was $1.21 billion in March. Compared to February figures, it has grown by about $150 million, which is 14%. However, this is still less than what the ETH miners earned.
Ethereum price chart. Source: TradingView.com
The income difference between BTC and ETH miners was up to 20% in January and 17% in February. In March, this difference was reduced to 10%.
The price of Ethereum rose towards the end of March and broke the $3,000 mark. This, combined with the number of ETH coins mined, has led to a meteoric rise in mining revenues.
At the time of writing, Ethereum is trading at $3,022. The price is down over 10% from its March high of $3,480.
#Ethereum #Miners #Continue #Overtake #Bitcoin #Miners #Revenue