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BTC miners earned more than $4 million in an hour amid rising fees and the BTC exchange rate

BTC miners earned more than $4 million in an hour amid rising fees and the BTC exchange rate

Thanks to bitcoin’s growth above $48,000 and the highest transaction fees since January 2018, the earnings of BTC miners have increased significantly.

According to
the analytical company Glassnode, bitcoin miners on February 11 earned more than $4 million in one hour. Analysts claim that this is the highest figure in the history of Bitcoin.

BTC miners just made over $4 million in a single hour – the highest hourly miner revenue in Bitcoin’s history so far.

Chart: https://t.co/TIffXFCIZH pic.twitter.com/PmAAmTN6j3

— glassnode (@glassnode) February 11, 2021

Miners ‘ earnings consist of a block reward of 6.25 BTC, plus transaction fees paid by bitcoin users. In block rewards, miners earn about 37.5 BTC per hour, sometimes more if seven blocks were mined instead of six. At today’s BTC exchange rate, this is about $ 2.1 million. A significant part of the miners ‘income consists of transaction fees, which on February 10 reached the
highest since January 2018 to $25.46, and on February 11 fell to $22.59. If the trend continues, the miners’ commission income may exceed the block reward.

Recall that BTC miners earned more
than $1.09 billion in January, which was the highest figure since December 2017, and ETH miners received revenue of $800 million, which exceeds the highs of 2018.