Ether miners in 2021 earned on $3 billion more bitcoin miners – Bits Media

Analytical company Arcane Research found out, that it was more profitable to mine ether this year, than bitcoin.

According to a report by Arcane Research in 2021 ether miners
earned $17 billions, and their colleagues mined bitcoin on $13.6 billion. Daily Ether Miners earned $56 millions against $45 millions from Bitcoin miners. The report says, that the volatility of Ethereum mining profitability was greater this year, than Bitcoin mining. Arcane Research drew attention to abnormally high transaction fees in the Ethereum blockchain as the main reason for the winning of ETH miners.

“Fortunately for Ether miners, Activity on the Ethereum blockchain has been high throughout the year and has increased recently, which led to a sharp increase in their income. Transaction fees on the Bitcoin blockchain have remained abnormally low since mid-summer.. Because of this, commissions are now only around 1% Bitcoin mining income compared to 53% for ether miners".

According to the analytical resource BitInfoCharts, After the successful Altair update, the average transaction fee on the Ethereum blockchain almost doubled in a week, to $51.45. And if this was an unpleasant event for users of the Ethereum blockchain, then the miners made good money on this.

Besides, the update triggered the growth of ether. 2 November airwaves reached an all-time high, exceeding $4500, and the next breakthrough to $5 000. Vitalik Buterin is even afraid, that due to high commissions, users may decide, that the Ethereum blockchain is only for the rich, and will look for alternative blockchains.