Miner revenue increases despite fees paid by users dropping

Miner Revenue Holds Steady Despite Drop in Fees

Miner revenue and transaction fees paid on major proof-of-work blockchains
Data from 24th of July to July 30th, Source: CoinMetrics

The average daily revenue Bitcoin miners have generated has undergone a slight increase since last week, according to data from CoinMetrics. The average daily revenue has increased 1% to $19.4 million despite a drop of 29% in the average daily fees paid by users week-on-week. The average daily hash rate increased by 7% week-on-week which would explain a greater frequency of block subsidies being rewarded to miners. The difficulty of mining on the network also underwent a slight reduction at the last adjustment.

Source: CoinMetrics State of the Network