Ethereum miners reach $1.29 billion in revenues in March

Ethereum miners brought in a total of $1.29 billion in March in revenue. 

Revenues increased month-over-month by 7.2%. They had been on a declining trajectory since November of 2021, when the revenue total was $2.07 billion.


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Ethereum miners generated about 1.08 times more in revenue than Bitcoin miners in March.

Most of these revenues came from the block subsidy ($1.21 billion) and only a small portion from transaction fees ($78.27 million) and uncle rewards ($58.23 million). Transaction fees decreased to 5.9% of total revenue.

Total revenues were $2.07 billion in November 2021 and have declined since. They hit an all-time high in May 2021, with a total of $2.4 billion.

For more must-read figures from around the digital asset space, read the March by-the-numbers breakdown by The Block Research's Lars Hoffmann (Research subscription required).

About Author

Catarina is a reporter for The Block based in New York City. Before joining the team, she covered local news at and at the New York Daily News. She started her career in Lisbon, Portugal, where she worked for publications such as Público and Sábado. She graduated from NYU with a MA in Journalism. Feel free to email any comments or tips to [email protected] or to reach out on Twitter (@catarinalsm).