Bitcoin miners posted a record $1.36 billion in revenue in February 2021 (+ 21% from January), according to the CoinDesk website.
The previous record revenue of $1.25 billion was set in December 2017, during the previous bull market. Last month, bitcoin revenue climbed to a three-year high, as the value of the cryptocurrency even reached $58,000, before falling to $43,000.
Revenue estimates are based on the fact that miners sell their Bitcoins immediately.
Calculated at 1 terahash per second (TH / s), miners’ revenue rebounded to $0.38 in February 2021, closing the month at close to $0.30, according to Luxor Technologies.
Network charges were $186 million in February, or 13.7% of total revenue – a significant increase from 10.3% of revenue at the end of last month. Revenue from fees reached its highest level since January 2018.
In particular, fees as a percentage of total revenue continue to show a strong upward trend since April. Increases in fee revenue are important to maintain network security.