Bitcoin miners generated $1.7 billion in revenue during April

Bitcoin miners hauled in $1.7 billion in revenue during the month of April, according to new data.

The April figure does however represent a slight decline compared to March’s $1.75 billion.

Miners were buoyed by high prices as bitcoin traded at an all-time above $60,000 earlier this month before recorrecting to it’s current price of around $57,500.

According to available data, 14.51% of the April revenue came from transaction fees – some $247 million. This figure represents the highest fee-to-revenue ratio since early 2018.

The strong month for bitcoin mining revenue comes during a period of change for the global sector. China’s long-running dominance of the mining space is fading, a process underpinned by growing investment in North America and high demand for hardware outside of China.