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Ethereum mining in July brought farm owners an income that beat the highs of a two-year period. The growth in profits is primarily due to the rise in the ETH rate by almost 40% per month, as well as an increase in commission fees.
In May, commissions left only 10% of earnings on block rewards, in July this share of income rose to 20%.
Investors and speculators are actively investing in ETH, expecting a strong increase in the value of the altcoin after the network transitions to PoS consensus. The new algorithm should increase the throughput of transactions, expand decentralization and the technical capabilities of smart contracts.
In absolute terms, ETH miners received $143.8 million, which is much less than the income of Bitcoin miners who earned $971.83 million in July. It is noteworthy that the income from commissions of BTC miners is almost comparable to the commission income of ETH miners. They amounted to $27.59 million.
However, in contrast to Ethereum miners, which saw an increase in profits for the third month in a row, the income of BTC miners began to grow only in June, dropping below the lows of last year’s summer.
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