Bitcoin miners generated more than $15 billion in revenue during 2021

Bitcoin miners made more than $15 billion in revenue over the course of 2021, according to The Block Research.

The estimate represents a year-over-year increase of 206%, per The Block Research’s 2022 Digital Asset Outlook Report. It should be noted that the estimate is premised on the notion that mining companies sell their accrued digital assets to pay for electrical power and other resources; some miners hold on to some of their mined coins.

As noted in the chart above, estimated mining revenue peaked in March, when miners brought in some $1.75 billion, including $167 million in transaction fees.

Throughout the year, bitcoin mining revenue was buoyed by soaring prices for the digital asset, which hit an all-time high in early November.

Read the full 2022 Digital Asset Outlook Report here.