The "thermocap" of Bitcoin, or the total revenue from mining, has reached a major milestone of $ 20 billion, according to Glassnode.
It has increased by more than 100% in the last two years.
Bitcoin fees are increasing
The "thermocap" figure includes both block rewards and transaction fees paid to miners.
It took over a year for Bitcoin to add $ 5 billion to all-time mining revenue after hitting the $ 15 billion milestone in October.
While block rewards still account for the majority of revenue, their role gradually diminishes with each halving.
Bitcoin's average transaction fee shot up to a local high of $ 17 earlier this week, but is still well below the $ 55.16 peak that was reached on December 22, 2017.
A big increase in income
Bitcoin's hashrate, which hit a new all-time high of 171.2 EH / s at the end of December, has increased tenfold since the previous bull market.
According to data provided by Luxor Technologies, the average daily income per terrahash peaked at $ 0.3178 on January 9, after Bitcoin rose to its current all-time high of $ 42,000. On January 7, Bitcoin miners made more than $ 45.2 million in one day.
This prompted a +9.87 percent mining difficulty adjustment that occurred last week, making some older ASICs less profitable.