U.S. Markets closed
  • S&P Futures

    3,364.75
    -18.25 (-0.54%)
     
  • Dow Futures

    27,215.00
    -150.00 (-0.55%)
     
  • Nasdaq Futures

    11,538.00
    -50.00 (-0.43%)
     
  • Russell 2000 Futures

    1,574.60
    -14.40 (-0.91%)
     
  • Crude Oil

    38.67
    -0.90 (-2.27%)
     
  • Gold

    1,907.60
    -4.30 (-0.22%)
     
  • Silver

    24.42
    -0.15 (-0.63%)
     
  • EUR/USD

    1.1788
    -0.0001 (-0.0118%)
     
  • 10-Yr Bond

    0.7780
    -0.0230 (-2.87%)
     
  • Vix

    33.35
    +0.89 (+2.74%)
     
  • GBP/USD

    1.3034
    -0.0008 (-0.0587%)
     
  • USD/JPY

    104.3200
    -0.1740 (-0.1665%)
     
  • BTC-USD

    13,808.89
    +54.13 (+0.39%)
     
  • CMC Crypto 200

    272.96
    +11.67 (+4.47%)
     
  • FTSE 100

    5,728.99
    -63.02 (-1.09%)
     
  • Nikkei 225

    23,410.76
    -83.54 (-0.36%)
     

Bitcoin Miners Saw 11% Revenue Drop in September

Zack Voell
·1 min read

Bitcoin miners generated an estimated $328 million in revenue in September, down 11% from August, according to Coin Metrics data analyzed by CoinDesk.

  • The moderate decrease in revenue came as bitcoin (BTC) stumbled through September, closing the month down 8% after gaining over 25% through July and August.

  • Revenue estimates assume miners sell their BTC immediately.

  • Network fees brought in $26 million in September, or just over 8% of total revenue, down 2 percentage points from fees comprising 10% of revenue in August.

  • Notably, fees as a percentage of total revenue continues a strong upward trend since April after the block subsidy halving in May.

  • Increases in fee revenue are important to sustain the network’s security as the block reward decreases every four years.

Related Stories