Ethereum Miners raked in $1.29 Billion in March revenue bucking downward trend

Latest data reveals that amid the positive month that March has been for Ether’s recovery within the crypto market, Ethereum miners managed to rake in a total of $1.29 billion (roughly Rs. 9,740 crore) in revenue over the past month. That’s still a long way down from the all-time high registered in November last year but it bodes well for miners who’ve suffered a rough few months over the winter period. Almost all of the $1.29 billion (roughly Rs. 9,740 crore) came from block subsidy, while less than $100 million (roughly Rs. 755 crore) were from transaction fees.

The total monthly revenue made by Ethereum miners increased by around 7.2 percent from February to March 2022. More importantly, this signifies a break in a descending trend that started all the way back in November 2021. At that point, the miners operating on the second-largest blockchain network made over $2 billion (roughly Rs. 15,100 crore) in revenue, but the numbers started to freefall in the following few months.