Bitcoin miners post $1.4 billion in revenue for August, data shows

Bitcoin miners brought in approximately $1.41 billion in revenue during the month of August, according to data compiled by The Block Research. 

The monthly figure is below the all-time peak of $1.75 billion posted in March but represents a month-over-month increase -- roughly 45% -- from July's $971.83 million. 

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The vast majority of the August revenue figure came in the form of the block subsidy, or the 6.25 BTC received by a miner when they successfully create a block. 

August marks the fourth month in a row during which the share of the transaction fee compared to the total bitcoin mining revenue fell. The transaction fee share dropped from 3.1% in July to 1.35% in August — an overall decrease of 56%. 

About Author

MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.