Bitcoin mining revenues fell in April while Ethereum's rose

Mining • May 3, 2022, 10:04AM EDT

Bitcoin miners brought in a total of $1.16 billion in April, a 4.3% decrease compared to the previous month, while Ethereum miners grew their revenues by 6.2% for a total of $1.33 billion.

Ethereum miners generated about 1.08 times more revenue than Bitcoin miners in April, according to data compiled by The Block Research.

Revenues from Ethereum mining have been consistently higher than Bitcoin’s since May of last year.

Most bitcoin revenues came from the block subsidy ($1.14 billion) and only a small portion from transaction fees ($12.98 million).

Similarly, a larger portion of the Ethereum revenues came from the subsidy ($1.25 billion). Transaction fees totaled $82.88 million and uncle rewards $58.85 million.

The daily average gas price increased and came in around 54.7 gwei on a 30-day rolling average at the end of April.

About Author

Catarina is a reporter for The Block based in New York City. Before joining the team, she covered local news at Patch.com 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).