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Bitcoin mining revenues fell 20% in November

Bitcoin mining revenues fell 19.9% in November to about $472.64 million, according to data compiled by The Block Research.

The cryptocurrency’s price, which had been hanging around the $19,000 mark last month, slumped below $17,000 in the aftermath of FTX’s collapse.

Most bitcoin mining revenues came from the block reward subsidy ($460.32 million) and only a small portion from transaction fees ($12.32 million). The share of bitcoin transaction fees over total revenue increased slightly to around 3%.

Bitcoin miners generated about 5.3 times the revenues of Ethereum stakers.

© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The Block