Altcoins, Crypto Mining News

Ethereum Miners Celebrates Another Awesome Month

Crypto miners are celebrating their contributions to the Ethereum (ETH) network. Just like February, March was also an outstanding month for Ethereum miners, as their monthly revenue surged to a new all-time high of $1.38 billion.

According to on-chain data compiled by The Block, Ethereum miner revenue hit a new high in March, surpassing the previous month’s value by 0.73%. The crypto news site reports that inflows from transaction fees constituted the bulk of the revenue. At the same time, transaction fees represented 47.22% of the total miner revenue in March, miner subsidies, and sat at 12.89%.

Early in March, miners rebelled against the upcoming Ethereum Improvement Proposal (EIP)-1559, which is supposed to introduce a gas-saving upgrade. The miners expressed concerns that the upgrade could cut profits by up to 50%. It is still unclear whether the Ethereum dev team will push forward with the promotion. But until that happens, miners will continue to make a killing from high gas fees.

Beyond miner revenue, ETH hit some critical milestones in Q1 2021. In late March, Visa, in collaboration with, enabled Ethereum-powered USDC stablecoin settlements at millions of merchant locations worldwide. Visa commented at that time:

We see increasing demand from consumers worldwide to access, hold, and use digital currencies, and we see a need from our clients to build products that provide that access for consumers.

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