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As\u00a0Ethereum\u00a0<\/strong>ETH\/USD<\/span> mining nears its end, miners made over $750 million in revenue in the month of August.<\/p>\n What Happened:\u00a0<\/strong>On-chain data from\u00a0The Block<\/a>\u00a0shows that Ethereum miners made $756 million in revenue last month \u2013 up 37% from the $545 million worth of revenue made from mining ETH in July.<\/p>\n The bulk of revenue \u2013 around $729 million \u2013 came from the soon-to-be obsolete block subsidies or rewards paid to miners on the network, while $25.35 million came from transaction fees.<\/p>\n \u00a0<\/strong><\/p>\n The Ethereum Merge will transition the network from a Proof-of-Work consensus mechanism to a Proof-of-Stake one. The highly anticipated upgrade is\u00a0expected to go live<\/a>\u00a0between Sept. 10 and Sept. 20 and is estimated to bring a 99.5% reduction in the network\u2019s energy consumption within 12 minutes of being activated.\u00a0<\/p>\n See Also:\u00a0HOW TO STAKE ETHEREUM<\/a><\/em><\/p>\n The end of Ethereum mining has made alternative Proof-of-Work cryptocurrencies like\u00a0Ethereum Classic\u00a0<\/strong>ETC<\/span> an\u00a0appealing choice<\/a>\u00a0for miners looking to remain operational after The Merge.<\/p>\n The transition will also likely give rise to a large scale ETH staking industry. Last year, analysts at JPMorgan Chase\u00a0estimated<\/a>\u00a0that the ETH 2.0 staking industry could reach $40 billion by the year 2025.<\/p>\n Price Action:\u00a0<\/strong>At press time, ETH was trading at $1,570, up 1% over the last 24 hours, as per data from\u00a0Benzinga Pro<\/a>.<\/p>\n<\/div>\n