Logo

Posts

Bitcoin Miners Saw 48% Revenue Increase in November

The sharp revenue increase came as bitcoin soared through November, setting a new all-time high by month’s end after gaining over 40 percent. Monthly aggregate revenue in November hit the highest level since September 2019. Revenue estimates assume miners sell their BTC immediately.

![Bitcoin Miners Saw 48% Revenue Increase in November][1]

Measured by revenue per terahash (TH), the unit measurement for the speed of cryptocurrency mining hardware, miner revenue hit six-month highs as it climbed above $0.15 multiple times in November, the highest level since early May, according to data aggregated by mining software company Luxor Technologies.

Despite significant intra-year volatility, mining revenue measured by terahash per second (TH/s) is roughly flat year to date from roughly $0.138 per TH/s on Jan 1 to $0.135 per TH/s at last check.

Network fees brought in $54.9 million in November, or nearly 11% total revenue, a slight percentage decrease from the 12.2% of revenue represented by fees in October.

Fees steadily declined through November, coming down from the roughly two-year highs in late October, dropping from a $13 average transaction fee at the start of November to below $3 near month’s end, per Coin Metrics.

Notably, fees as a percentage of total revenue continues a strong upward trend since April, prior to the network’s third-ever block subsidy halving in May. Increases in fee revenue are important to sustain the network’s security as the subsidy decreases every four years.

Source:[FXPro][2]

  1. /files/downloads/2/b/c/2bcef367bcb4feb4837158096bab6321_8f5f092b8ccac0b7879df36aa2478e3e.png
  2. /geturl/index/d13edcea6383cc43ef7c9a573983da7522668913/