Ethereum Mining’s Revenue Booms
During the last month, Ethereum’s price rose almost 40 %, giving a significant boost in the market and the existing Ethereum network.
This resulted in fees rising in the network and revenue soar for miners who remain active in the network at that moment. We should note that during the last period, Ethereum’s miners seem to abandon the coin, creating decreasing competition and larger opportunities for the remaining miners.
During July, Ethereum’s price rose from $230 to $325, creating a new trend in the market. During the same period, the daily income for a miner in Ethereum’s network, rose from $1.85 per 100 megahash to $3.27 per 100 megahash, a rise around 60 %.
Comparing to Bitcoin, Ethereum seems to create over-returns for miners as its returns could surpass those of Bitcoin, even at 100 % at this moment.
For this specific reason, we should take into consideration every asset’s price and its effect on network's mining difficulty.