Ethereum miners have been making more revenue than Bitcoin miners over the past few days.
According to The Block’s Data Dashboard, Ethereum miners are now making $77 million in daily revenue, as of Monday, compared to the $67 million that Bitcoin miners are earning. The data is a 7-day moving average (7MDA), meaning it is the average of the last seven days and indicates a short-term trend.
This has happened a few times over the last few months. Ethereum miners saw higher revenues than Bitcoin miners in early February and late April. What’s noticeable is that this is starting to happen more frequently, when it has been a rare occurence over the last few years.
One of the reasons that Ethereum miners are seeing higher revenues is that the price of ether has risen significantly over the last few months. It has continued to rise in the last few weeks while bitcoin’s price has stagnated. After starting the year at $730, one ether is now worth $4,300.
Another key reason is the network’
