Ethereum miners' revenue touched almost a two-year high in July

Ethereum miners generated $143.8 million in revenue in July, representing a 23-month high, according to The Block Research.

Transaction fees made a chunk, nearly 23%, of Ethereum miners' revenue during the month, as noted by The Block's Larry Cermak in his latest report. In May, transaction fees accounted for only 10% of Ethereum miners' revenue.

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Source: Coin Metrics, The Block Research

Bitcoin miners, on the other hand, generated $299 million in total revenue in July — that is almost twice of Ethereum miners' revenue. Bitcoin transaction fees saw a slight increase to 8% in July as compared to over 4% in June.

Last month, bitcoin miners' revenue touched a 15-month low due to halving that took place in May. The bitcoin halving cut the per-block subsidy from 12.5 BTC to 6.25 BTC.

To read the full July report and more such data-driven stories, subscribe to The Block Research.

About Author

Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.