Terra Virtua

Ethereum Miners Earn More Than Bitcoin Miners

Available data has shown that miners of Ethereum are earning more than Bitcoin miners in recent days. This is according to The Block’s Data Dashboard.

Per the data dashboard, Ethereum miners, in the last seven days, have earned an average revenue of $77 million. Bitcoin miners, on the other hand, have earned around $67 million daily. This means that Ethereum miners have been able to leverage on the increasing value of the second largest crypto asset by market cap which is currently experiencing a bullish run.

According to The Block, “the data dashboard is a 7-day moving average (7MDA), meaning it is the average of the last seven days and indicates a short-term trend.”

Interestingly, in previous times, this could have been termed a freak occurrence. However, Ethereum miners are beginning to earn more revenues than Bitcoin miners frequently in recent times. This was noticed in the early period of February and also around the end of April.

One other reason that has allowed miners of Ether to earn more than those of BTC is the record high transaction fees that the network has attracted. We reported that Ethereum’s transaction fee was as high as $51, presently, this figure has increased to over $60.

It is important to note that Ethereum miners get around 40 percent of their revenues from this high transaction fees.

Views and opinions expressed are solely those of the author and not of The DeChained or any affiliated party. Views or opinions expressed in this article (or any article on the website) are not financial advice. Articles are for informational purposes only. The author and The DeChained may hold positions in assets discussed in this or other articles.
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