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Bitcoin Miners Made History in October 2021

By Mohamed Saber Farrag - Nov 01, 6:00 AM

Bitcoin miners made history as they hit their second month of highest revenue in October 2021 with 1.72 billion. According to reports, this was the new second-highest revenue ever recorded.

The recorded figure was more than the one recorded for April 2021, which was 1.7 billion. However, it was not more than that recorded for May 2021. Refer to the graph below for a representation of the data recorded.

The October 2021 figure of over $ 66,000 was likely a new all-time high for bitcoin. The price of the cryptocurrency reached its highest level of $ 66,909.15 on Coinbase during this period.

The bulk of the revenue came in the form of block subsidies - amounting to 6.26 BTC per transaction block. The transaction fee represents a modest 1.62% of total monthly income, or $ 27.47 million.

This trend continued since the end of the summer 2021, although the October 2021 transaction fee figures represented a three-month high for fee-related earnings.

Rain is licensed by the Central Bank of Bahrain as a Category 3 Crypto-Asset Services Provider. We are headquartered in the Kingdom of Bahrain

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