Crypto Corner: Bitcoin Miners See Revenues Jump By A Quarter

Cryptocurrencies turn ten years; 2019 could be the year of tokenizationVarious countries have suddenly started recognising cryptocurrencies in their financial laws and courts

Adam Vettese (eToro) | Bitcoin miners saw revenues surge 23% in August as increased transaction volumes fed through to prices, and as the price of Bitcoin remained above $11,000.

Coin Metrics data analysed by CoinDesk showed Bitcoin miners generated an estimated $368 million in revenue in August, up from $300 million in July. It is the third consecutive monthly increase in miner revenue and was given a lift from network fees which totalled $39m in August.

Miners are enjoying the benefits of the higher price, with Bitcoin climbing above $11,000 back at the end of July and holding above that level throughout the last month.

Ethereum also continues to surge; the price of the second largest cryptoasset by market cap shot higher at the end of August to trade at $466 and is up more than 300% since the March low point

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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.