News flash: Blogging rakes in serious cash, both directly and indirectly with very little overhead. Business 2.0 writes: “[TechCrunch.com] is pulling in $60,000 in ad revenue every month. That’s 10 times what the site was making earlier this year, which was when [site founder and chief blogger] Arrington, convinced of the potentially monstrous riches ahead, quit his day job as president of a startup to blog full-time.”

Follow the source for the full article that not only explores high profile bloggers and their earnings, but where the business model is headed, middle men advertisers, and how blogs are changing CPM’s for the better through the use of targeted niche traffic.

And if you only read one article on the business of blogging, go read the oh-so insightful Blogs to Riches piece from New Yorker magazine.