Data: Bitcoin miners' total hourly income has reached $1 million

According to BlockBeats, it is not just Bitcoin traders who are profiting from the bull market led by Bitcoin. Bitcoin miners are also making money. According to recent data from Glassnode, Bitcoin miners earn about $1 million per hour, the highest record since July 2019.

Glassnode claims that since the Bitcoin halving, miners’ revenue has increased by 185%. This is even more impressive considering that in July 2019, “the block reward was twice as much as it is today.”

One of the reasons for the increase in miners’ income is the increase in on-chain data processing demand, which has led to a slight increase in transaction fees. According to BitInfoCharts.com, as of December 29, the average cost of processing a Bitcoin transaction was $8.7.