Bitcoin miners generated an estimated $368 million in revenue in August, up from $300 million in July, and the third consecutive monthly increase in miner revenue, according to Coin Metrics data
Network fees brought in $39 million in August, or 10.7% of total revenue, setting the highest percentage of fee-generated revenue in over 18 months
Correspondingly, average daily fees continued July’s upward trend, staying above $2 for the entire month of August, according to Coin Metrics data.
July’s revenue increase coincided with rallies of the shares of publicly traded mining companies, several of which continue tooutperform bitcoin
In addition, Riot Blockchain, Marathon Patent Group have reported significant revenue increases and mining capacity growth over the past quarter. Even troubled Hangzhou, China-based Canaan Creative reported a 160% revenue increase over the June period.