June 11, 2022 5:28 AM EDT
For the third month in a row, the profitability of Ethereum mining exceeds the earnings of those who chose other cryptocurrencies. Even bitcoin mining has not become as profitable as ether. Despite the increase in the income of BTC miners in March, those who produce Ethereum earn about 10% more.
March was challenging in terms of mining the world’s first virtual currency created based on blockchain. Analysts at Be[In]Crypto Research assure that the total turnover of bitcoin miners for the third month of 2022 amounted to $1.21 billion. Relative to March 2021, the drop was almost 30%, then the industry generated about $ 1.75 billion.
Ethereum Continues to Outpace Bitcoin in Mining Profitability
Even though ETH was not the first cryptocurrency in the world, Ethereum mining in 2022 became a more profitable occupation than the production of BTC. Its miners managed to generate $1.34 billion in turnover against $1.21 billion for bitcoin. The reason lies in the changes in the value of tokens. You can see more https://dailyinfo.blog/ethereum-mining-in-march-again-became-more-profitable-than-bitcoin-mining.html
If we summarize the discussion of the reasons affecting the calculation of the profitability of miners, we can draw the following conclusion. A key factor in the increase in mining revenues in March 2022 was the rise in prices for digital assets. Since the Ethereum exchange rate has increased more in percentage terms than bitcoin quotes, the generation of ETH turned out to be more profitable than BTC mining.