ETHEREUM MINING STARTED TO MAKE MORE PROFIT THAN BITCOIN MINING

 



The Block: Ethereum Mining Brings $ 1.03 Billion In July


In July, Ethereum mining brought in $ 1.03 billion and turned out to be more profitable than Bitcoin mining for the third month in a row. RBC reports this regarding The Block.

 

For the first time in history, mining altcoin has been more profitable than mining the main cryptocurrency for so long. Bitcoin miners earned $ 971.8 million in July, which is 16% more than in June.

 

In June, the mining of the largest altcoin by capitalization brought in $ 1.1 billion against $ 839 million earned by bitcoin miners. In May, Ethereum miners earned $ 2.35 billion, which is 900 million more than Bitcoin miners.

 

It is noted that in June, the total revenue of Bitcoin and Ethereum miners decreased by 42% and 53%, respectively, compared to May. This happened because of the largest hash rate drop in history, which was triggered by the mining ban in China. At the end of July, the bitcoin hash rate recovered.

 

 

 

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