Revenues of Bitcoin and Ethereum miners collapsed
What's interesting is that miners' revenues are still higher than they were in December 2020
According to The Block, Bitcoin and Ethereum miners' earnings nearly halved this June compared to the previous month.
Bitcoin miners received $839 million in June, down from $1.45 billion in May. The main reasons cited were a drop in the bitcoin exchange rate and fewer transactions. Bitcoin hashing rates have also fallen 50% since peaking in May. The number of daily transactions fell to nearly 200,000 from 300,000 in May. This level was last seen in August 2018.
Revenue from Ethereum miners dropped to about $1.1 billion in June from $2.35 billion in May. The reasons are exactly the same. At the same time, about $166 million came from transaction fees.
What's interesting is that miners' revenues are still higher than they were in December 2020, when Bitcoin and Ethereum were worth about $20,000 and $1,000, respectively.
At the time of publication of this post, Bitcoin and Ethereum are worth about $33,700 and $2,100, respectively