Bitcoin Miners Earn About $350 Million In One Month
Bitcoin Miners Earn $353 Million in One Month.
The daily revenue of Bitcoin miners reached over $21 million in November—returning to pre-halving levels.
Bitcoin miners saw profits of $353 million in October—from both transaction fees and block rewards.
As Bitcoin's price rally continues, they may see higher revenues this month.
Miners' daily profits have returned to pre-halving levels not seen since May.
The combined revenue of Bitcoin (BTC) miners around the world—comprising both transaction fees and block rewards—amounted to $353 million in October, according to Comprar Acciones’ report published today.
Per the report, October turned out to be one of the best months over the past three years for Bitcoin miners. During that period, transaction fees amount to around $42.9 million—or over 12% of miners’ monthly profit. Including block rewards, the revenue of $353 million signified an 8% increase compared to September.
The report highlighted several contributing factors that helped increase miners’ profits. Unsurprisingly, one of them is the rapid growth of BTC’s price in October as the crypto gained nearly 30% month over month. On October 1, Bitcoin was trading at around $10,800 per coin while its price surged to $13,800 on October 31.
For comparison, JP Morgan Chase stock rose by 8% in October while gold and the S&P 500 Index gained 1.44% and 5.31%, respectively.