For the third month in a row, Ethereum miners have made more money than Bitcoin miners, the longest streak in history. Ethereum miners made $1.03 billion in revenue in July, according to The Block's Data Dashboard, a tiny decrease from the previous month.
Bitcoin miners, for their part, made $971.8 million in revenue last month, up more than $100 million from June.
While transaction fees have remained a reliable source of revenue for Ethereum miners, this cannot be true for Bitcoin miners. Last month, transaction fees accounted for only 3.1 percent of Bitcoin mining earnings.
Mining revenue is a monetary estimate of the profits made by cryptocurrency miners. It's determined by multiplying the current mining rewards by the price of the asset during the month, plus transaction fees each block. It excludes any expenditures incurred by miners, such as energy, other running costs, or taxes.
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