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In November of this year, cryptocurrency miners engaged in bitcoin mining set record revenues from commissions.
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In November of this year, cryptocurrency miners engaged in bitcoin mining set record revenues from commissions.

Dec 5, 2023

In November of this year, bitcoin miners received transaction fees in the amount of $142.19 million.

November was a record month for Bitcoin miners this year in terms of revenue. The total amount of income earned by bitcoin miners around the world amounted to $ 1.16 billion, with $142.19 million coming from commissions. Earlier this year, the maximum revenue was recorded in May, when commissions amounted to 125.92 million dollars out of the total revenue of the mining industry in the amount of 912.22 million dollars.

From May to November, there was a significant fluctuation in the amount of commissions collected by bitcoin miners. The minimum figure was $17 million per month, and the maximum was $38 million in June.

If we talk about the profitability for each unit of mining equipment power, measured in Ph/s (petahashes per second), then on May 8 this figure was $ 124.17 per Ph/s. However, in November, this figure was lower and amounted to $96.36 per 1 Ph/s by November 18. These changes are related to fluctuations in the difficulty of bitcoin mining and the overall efficiency of mining.

The total number of bitcoin transactions confirmed by miners in November (16.42 million transactions) was slightly higher than in May (16.3 million transactions). However, if we take into account the dollar equivalent, the daily volume of bitcoin transactions in November, although it remained at a high level, did not reach the maximum level of this year, which was recorded on October 29.

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