Bitcoin miners score their second-highest month of revenue ever with $1.72 billion in October
Bitcoin miners hauled in $1.72 billion in revenue during October, new monthly data shows, the second-highest level on record.
That figure edges out April’s $1.7 billion but doesn’t quite exceed the all-time monthly high of $1.75 billion reported for May, as shown in the graph below.
Likely buoying the October figure was bitcoin’s rise to a new all-time high above $66,000. The cryptocurrency’s price hit a high of $66,909.15 on Coinbase during that period.
The vast majority of the revenue came in the form of block subsidies — amounting to 6.26 BTC per transaction block. Transaction fees represented a paltry 1.62% of the total monthly revenue, or $27.47 million.
That continues a trend seen since the end of the summer, though the October transaction fee figure represents a three-month high for fee-related income.
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Author: Michael McSweeney
