Bitcoin mining revenue fell 16.2 percent to about $550.5 million in September, according to compiled data. It was the fifth drop in the past six months and the lowest level since November 2020.
After the Ethereum ETH 1.05% network moved to proof-of-stake, Bitcoin BTC 2.23% generated roughly 1.56 times as much revenue as Ethereum miners and stakers combined.
Most Bitcoin mining revenue comes from rewards ($541.8 million), with only a small portion from transaction fees ($8.66 million).
Bitcoin transaction fees as a share of total revenue edged up to around 1.6%. The network hash rate increased by around 10.4% in August and 0.6% in September.