This year has literally been an Ethereum spring. ETH price has seen its best value of all time, delighting its investor more than ever.
On the other hand, while the crypto money pressures in China focused especially on Bitcoin, Ethereum did not suffer the same blood loss in mining.
ETH miners also made good profits as well as investors. This revealed a significant income gap between BTC and ETH miners.
Especially last year and this year were much more profitable for Ethereum miners. While a total of $ 17 billion in revenue was generated from ETH mining activities, this figure remained at $ 13.6 billion for Bitcoin miners.
On the other hand, while Bitcoin mining volatility was 28%, this rate was 47% for ETH.
This difference in daily revenues naturally played the biggest role in the revenues of ETH miners.
To express this rate in dollars, while the average daily income for BTC mining was 45 million dollars, this figure reached 56 million dollars for ETH.
In addition to all these, it should not be forgotten that the price of ETH is also a leading factor in the income increase of ETH miners. As a result, as the rate of sending transactions on the network increases, mining income is also greatly affected.
In addition, the growing popularity of decentralized finance and NFTs has also increased fees on the network, adding to the earnings of the miners. In contrast, transaction fees contributed only 1% to total miner revenue for Bitcoin.