Ethereum’s $800 million January mining revenue surpasses 2018 highs
The Ethereum mining revenue reached $800 million last January and set a record high. It surpassed the record set three years ago.
As reported by Wolfie Zhao at the Block, the transaction fees, or the gas fees on the network contributes to over $311 million of Ethereum’s January mining revenue.
This year’s January monthly revenue has surpassed the previous all-time high in January 2018.
According to Coindesk, on-chain data showed that, in January 2018, network fees represented 9% of the monthly revenue. That ratio has increased dramatically over the years. In January this year, the network fees contributed to 40% of the revenue.
Ethereum miners’ daily revenue per each megahash second (MH/s) of hashrate also hit a level that is not seen since early 2018.
The top ethereum mining machines, Nvidia’s RTX 3080 and ASIC miner A10 Pro are able to generate $62 in 24-hour gross profits per unit.
The soaring transaction fees are having the DeFi developers looking at alternative public chains to build on.
Buy & Stake DADA Finance: https://dd.finance/buy-dhm
Buy DHM: https://dhash.finance/buy
Find D-Hash on Telegram: https://t.me/dhashfinance
Twitter: https://twitter.com/DhashFinance
