According for data Provided by Ethereum mining pool Sparkpool, Ethereum mining revenue is up 60% this month.

The direct reason for the rise in Ethereum mining revenues is the increase in the price of the Ethereum currency by 40% during the same period.

In addition to the high transaction fees via the Ethereum network.

Data from Ethereum mining pool Sparkpool shows that the daily income of Ethereum miners was around $1.85 per 100Mh/s on June 27.

In the past two weeks, this percentage has jumped by 60% and the daily income has reached $3.27 on July 25th.

The value has since fallen to about $3.

During the same period, the price of Ethereum increased nearly 40%, from $229 on June 27 to $327, the highest price in more than a year.

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Transaction fees on the network, which form part of the daily revenue of miners, reached their highest level in two years as the hype of decentralized finance (DeFi) brought a spike in network activities.

The total computing power competing on the world’s second largest blockchain network by market capitalization is estimated at around 190 petahs per second according to Etherscan.

Data from Bitinfocharts also indicates that daily Ethereum mining revenue remained below $2 per 100 MH/s during the first quarter of the year and dropped to $1 per 100 MH/s after the March 12 crypto market crash.

But the daily mining revenue tripled.

Currently, some modern Ethereum mining hardware, such as the A10 Pro from InnoSilicon which offers a computing power of 485MB/s, can generate $12.92 in daily revenue at the current price and current mining difficulty of Ethereum.

With an electricity cost of $0.03 per kilowatt-hour, the A10 Pro is able to generate a daily net profit of about $12, according to aggregator F2Pool.

What makes the profitability of the Ethereum mining process in this period exceed its counterpart in Bitcoin, sometimes up to 100%.

Although the price of Bitcoin jumped above $10,000 over the weekend for the first time since early June.

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The sudden increase in the price of Bitcoin came after weeks of the currency’s relative stability, which for a period remained between $9000 and $9500.

The difficulty of mining bitcoin is still around its all-time high.

Calculating the cost of electricity at $0.03 per kilowatt-hour, bitcoin mining would provide a daily profit of about $6.50 at the current price and difficulty of bitcoin, PoolIn aggregator data shows.

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