Ethereum miners have generated $800 million worth of transactions in January earnings, this figure exceeds the record high seen three years ago.
This transaction report was based on the Block’s data which shows that approximately $311 million worth of Ethereum’s January mining revenue came from transaction fees on the network, which represents almost 40 per cent.
The rise in the volume of transaction fees and the price surge of Ether to an all-time-high over $1,400 in the previous month pushed Ethereum’s January mining revenue to exceed the previous record highs of $762 million seen in January 2018.
Ethereum miners’ daily revenue per each megahash second (MH/s) of computing power also hit a level that is not seen since early 2018, according to The Block’s Dashboard.
Bitcoin miners GPUs and ASIC miners on the Ethash algorithm are experiencing a significant supply shortage.
Similar to Bitcoin’s monthly mining revenue in January also hit its highest record since December 2017.