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Bitcoin's (BTC) Share of Mining Rewards Is Close to Pre-Ethereum (ETH) Levels

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Fri, 01/10/2020 - 19:47
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Alex Dovbnya
As Ethereum (ETH) becomes more and more irrelevant on the mining scene, Bitcoin (BTC) miners continue to increase their share of rewards
Bitcoin's (BTC) Share of Mining Rewards Is Close to Pre-Ethereum (ETH) Levels
Cover image via www.123rf.com

According to Yassine Elmandjra, a cryptocurrency analyst from ARK Invest, Bitcoin miners are now responsible for 80 percent of all mining rewards. BTC's share has increased by more than 250 percent since mid-2017.  

Related Bitcoin (BTC) Mining Starts Attracting Major Institutional Investors
Related
Bitcoin (BTC) Mining Starts Attracting Major Institutional Investors

As the graph below shows, BTC completely dwarfs other proof-of-work (PoW) cryptocurrencies, including Ethereum (ETH). 

Bitcoin mining
image by @yassineARK

Ethereum surpassed Bitcoin by the total amount of miner rewards back in May 2017. However, its share started to decline in a very steady manner, which coincided with falling ETH prices.  

During the Ethereum 2.0 era, the leading altcoin will gradually transition to a proof-of-stake (PoS) chain.  

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.