The Dogecoin [DOGE, +18.74%] army isn’t the sole one making a killing this year. Miners liable for generating the Shiba Inu-themed cryptocurrency can also be laughing their due to the bank.
The daily revenue of Dogecoin [DOGE, +14.79%] miners rose to a record high of $3.6 Mln on 26th April, marking a 4,575% rise from the New year’s day tally of $77k, blockchain data provided by ByteTree reveals.
Revenue estimates assume miners, who operate predominantly on cash, sell their coins immediately.
Miners receive newly created coins and transaction processing fees as a gift for mining blocks and processing transactions on the DLT.
The price of dogecoin has rallied by 7,000% this year, pushing miner revenue skywards.
The meme-based crypto-asset reached a record high of $0.45 USD on 18th April and was last seen changing hands near $0.32 USD, up nearly 20% rise on a 24-hour basis.
Data provided by Coin Metrics reveal a 60x-times increase in daily transaction fees this year alongside several brief spikes within the number of daily transactions.
Additionally, transaction fees brought in only $23,200 USD or 0.64% of the entire miner revenue of $3.6 Mln on 26th April.