Bitcoin miners brought in $692 million in revenue during December

Bitcoin miners brought in nearly $700 million in revenue in December, according to data collected by The Block Research.

Of the $692.32 million in reported monthly revenue, $68.3 million came in the form of transaction fees. Users pay transaction fees to give their transactions a higher priority when waiting to be included in a block.

December's figure was the highest for 2020 and represents the most revenue generated during a given period since January 2018. During that month, bitcoin miners brought in roughly $1 billion in revenue.

The month saw the price of bitcoin trading around $19,000 and move to nearly $30,000 per coin. Bitcoin surpassed that value on January 2.