Ethereum miners brought in a total of $1.29 billion in March in revenue.
Revenues increased month-over-month by 7.2%. They had been on a declining trajectory since November of 2021, when the revenue total was $2.07 billion.
Ethereum miners generated about 1.08 times more in revenue than Bitcoin miners in March.
Most of these revenues came from the block subsidy ($1.21 billion) and only a small portion from transaction fees ($78.27 million) and uncle rewards ($58.23 million). Transaction fees decreased to 5.9% of total revenue.
Total revenues were $2.07 billion in November 2021 and have declined since. They hit an all-time high in May 2021, with a total of $2.4 billion.
For more must-read figures from around the digital asset space, read the March by-the-numbers breakdown by The Block Research’s Lars Hoffmann (Research subscription required).