In February, Bitcoin miners made a record $1.36 billion in revenue.

[Cordillerabit]

According to on-chain data from Coin Metrics analyzed by CoinDesk, bitcoin miners broke a more than three-year-old record in February, generating $1.36 billion in revenue, up 21% from January.

The previous revenue record of $1.25 billion was set in December 2017, at the height of the previous bull market in cryptocurrency. The increase in revenue came as the price of bitcoin (BTC, +4%) climbed from $33,000 to a new all-time high of just above $58,000 last month, before plummeting to $43,000 in the last week.

Estimated revenue is based on miners selling their bitcoins right away.

According to Luxor Technologies, miner revenues fluctuated between $0.23 and $0.38 per terahash per second (TH/s) in February, ending the month near $0.30.

In February, network fees brought in $186 million, accounting for 13.7 percent of total revenue, a significant increase from the 10.3 percent represented by fees the previous month. Fee revenue hit its highest mark since January 2018, per Coin Metrics data.

Fees as a percentage of total revenue have been steadily increasing since April, just before the network's third-ever block subsidy was halved in May. As the subsidy decreases every four years, increases in fee revenue are critical to maintaining the network's security.

Source:  Bityard