Jackpot for Bitcoin miners
Bitcoin (BTC) miners shared more than $ 15 billion in revenue in the year 2021, according to The Block’s latest report. This estimate represents an increase of 206% compared to the year 2020.
Miners’ incomes are estimated on the assumption that they sell their BTC immediately, which is not entirely accurate since some minors keep their cryptocurrency for several weeks and months.
Bitcoin’s hash rate, a measure of miner performance, hit a new all-time high of 166 million TH / s in April. The total computing power of the network had dropped sharply by 50% between May and June before recovering to record levels at the end of the year.
Evolution of the Bitcoin hash rate (MM 30 days) – Blockchain.com
Ether miners not left out
Ether miners have generated a total of $ 16.5 billion in revenue, which in comparison to 2020 represents an increase of 678%.
This record can be attributed to a significant increase in activity on the network due to the development of decentralized finance (DeFi) and the explosion of non-fungible tokens (NFTs)
This record was also registered despite the implementation of EIP-1559 in July 2021. This “burn” mechanism made it possible to destroy part of the transaction fees. It is all the same 1.25 million ETH which was burned and which was not in the pocket of the minors.
Like Bitcoin, Ethereum’s hash rate came to a halt in May and June, but quickly recovered. Network computing power broke its all-time high in August 2018, reaching a record high of 819 TH / s at the end of November. Since the beginning of the year, Ethereum’s hash rate increased 187%.
? To read on the same subject: Bitcoin (BTC): the hashrate has recovered from the exodus of Chinese miners
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About the Author : Florent David
Engaged in the crypto ecosystem since 2017. I am particularly interested in decentralized finance (DeFi), Ethereum 2.0 and non-fungible tokens (NFTs).
All articles by Florent David.