Due to the significant growth in cryptocurrency rates, in January 2021, miners’ earnings reached record highs.
Over the past month, Ethereum miners have mined a total of $ 829.6 million of ETH, which is the highest ever recorded. At the same time, $ 325.5 million or almost 40% of the revenue came from fees for network transactions. Compared to December 2020, income increased by 123%.
Ether price jump above $ 1400 and an increase in commissions with a slight increase in hash rate led to the fact that the profitability of mining per unit of computing power reached the level of January 2018, when the previous record of $ 762 million was recorded.
The past month has also been one of the best for Bitcoin miners. In 31 days, they earned a total of $ 1.12 billion, of which $ 116 million or slightly more than 10% were transaction fees. The increase was 61.8%.
January has become one of the best months in the history of mining
Despite the huge amount, this revenue indicator became only the second largest, behind the record $ 1.25 billion collected in December 2017.In January, the average profitability of BTC mining at 1 Th / s was $ 0.25, which is the highest level since mid-2019..
The lack of supplies of new ASICs and video cards also contributed to the increase in the profitability of mining. This slowed down the growth of mining complexity amid the rapid rise in cryptocurrency rates.
text: Ivan Malichenko, photo: coinit, graphics: Coin Metrics