The miners of Ether, the native token of Ethereum, will make record revenue this month in spite of the fall in the price of the crypto.
According to The Block, the miners of Ether, who make it possible to make transactions on the network by using GPUs or ASIC devices to validate blocks, are on the way to make a lot of money this May.
Despite the overall crash in the crypto market, which has seen the price of BTC fall from above $60,000 to $30,000 and the price of Ether from above $4,000 to below $3,000, Ether miners could still end the month with a smile on their faces.
As of May 23, the miners of Ether had made more than $1.93 billion in revenue, $922.46 million from transaction fees, which is the reward they receive for validating transactions on the network. In addition, we should not forget that we are on May 24, meaning that miners still have 7 more days to increase their revenue.
While crypto mining involves a really high electricity consumption, it can be a profitable activity if carried out in places where the cost of electricity is low.