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Revenues of Bitcoin and Ethereum miners collapsed

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According to The Block, in June this year, the revenue of Bitcoin and Ethereum miners fell by almost half compared to the previous month.

Bitcoin miners received $ 839 million in June, up from $ 1.45 billion in May. The main reasons are the fall in the bitcoin rate and the decrease in the number of transactions. Bitcoin’s hash rate has also dropped 50% since its peak in May. Daily transactions dropped to nearly 200,000 from 300,000 in May. This level was last recorded in August 2018.

Revenue from Ethereum miners fell to about $ 1.1 billion in June from $ 2.35 billion in May. The reasons are absolutely the same. At the same time, about $ 166 million fell on transaction fees.

Interestingly, miners’ revenues are still higher than those of December 2020, when Bitcoin and Ethereum were worth about $ 20K and $ 1K, respectively. At the time of publication of the note, Bitcoin and Ethereum rates are about 33.7 thousand and 2.1 thousand dollars, respectively.

At the time of writing, Bitcoin is trading at around $ 33,300 and Ether at around $ 2,200.

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