Bitcoin miners post $1.4 billion in revenue for August, data shows

Bitcoin miners post $1.4 billion in revenue for August, data shows

Bitcoin miners brought in approximately $1.41 billion in revenue during the month of August, according to data compiled by The Block Research.

The monthly figure is below the all-time peak of $1.75 billion posted in March but represents a month-over-month increase -- roughly 45% -- from July's $971.83 million.

The vast majority of the August revenue figure came in the form of the block subsidy, or the 6.25 BTC received by a miner when they successfully create a block.

August marks the fourth month in a row during which the share of the transaction fee compared to the total bitcoin mining revenue fell. The transaction fee share dropped from 3.1% in July to 1.35% in August — an overall decrease of 56%.

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