Bitcoin miners' income dropped to approximately $1.4 billion in January 2025, marking a 2.8% decrease compared to the previous month, according to data shared by The Block researcher Lars.
The Bitcoin mining industry continues to navigate economic challenges, with fees accounting for just $20.37 million of the $1.4 billion in January. The lack of transfer activity on the network that Bitcoin miners have recently experienced could be the cause of the decreased fee income.
Ethereum stakers also saw a decline, with their income falling by 9.7% to about $309 million. In addition, 33,906 ETH were destroyed on the Ethereum network in January, valued at roughly $113.2 million. Of the total Ethereum fees, around $39.38 million was derived from on-chain transactions.
Since the introduction of Ethereum’s EIP-1559 upgrade in August 2021, approximately 4.56 million ETH have been burned, translating to $12.9 billion in value. On the Ethereum network, the NFT market experienced a 41.3% drop in transaction volume, which fell to $519.2 million.
Meanwhile, stablecoin transactions saw a decline of 6.3%, amounting to $1.32 trillion. Despite this, the issuance of stablecoins grew by 3.1%, totalling $175.2 billion, with USDT maintaining 78% of the market share and USDC accounting for 19.6%.