@BOMBERuss 3 September 2022 more from that month

The total revenues of #Ethereum miners in August amounted to $ 756 million, which is 37% more than in July, when it amounted to $ 545 million. According to data collected by The Block Research, just over $30 million of this amount was transaction fees, that is, #ETH was paid for transactions that should be included in blocks, and the rest was in the form of block subsidies to miners. August was the last full month of Ethereum #mining. In the period from September 10 to 20, the blockchain within The Merge will switch from a proof-of-work (#PoW) mechanism for creating blocks to a proof-of-stake (#PoS) system, after which PoW mining on Ethereum will stop. Some in the industry suggest that Ethereum PoW forks may appear after the merger, providing miners with a new source of income. Whether these forks will be successful is unknown. With the help of proof of work, miners generate hashes in competition to match the hash of the current target block. On the contrary, the Ethereum share confirmation system includes many validators who allocate their funds. The revenue figures for August were probably supported by an increase in the price of ETH compared to its figures in June and July, as shown in the graph below. Daily ETH mining revenue figures increased in August compared to June and July. #CryptoCurrency