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 network moved to proof-of-stake, Bitcoin 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.