Bitcoin mining revenues fell 19.9% in November to about $472.64 million, according to data compiled by The Block Research.
The cryptocurrency’s price, which had been hanging around the $19,000 mark last month, slumped below $17,000 in the aftermath of FTX’s collapse.
Most bitcoin mining revenues came from the block reward subsidy ($460.32 million) and only a small portion from transaction fees ($12.32 million). The share of bitcoin transaction fees over total revenue increased slightly to around 3%.
Bitcoin miners generated about 5.3 times the revenues of Ethereum stakers.