Ethereum mining revenue crosses a record $1 billion

Crypto mining has been an alternative method of acquiring currencies, from the very start. Instead of buying and holding coins, one can increase their stash through solving equations that help sustain the blockchain. This February, for the first time ever, the revenues generated through Ethereum mining have crossed the $1 billion mark.

Ethereum has remained a popular coin for miners for a few years now, and with the renewed interest in cryptos, the revenue has jumped by more than half in the last couple of months.

With the February mining revenue reaching an impressive $1.37 billion, mining has indeed become a lucrative business. Jumping into the fray is Nvidia who recently announced new chips designed specifically for Ethereum mining.

Despite environmental concerns, cryptomining is set to grow significantly throughout 2021.

Leave a Reply