Bitcoin Miners Rake in Record $106.7 Million, 75% from Fees
Big news in the world of Bitcoin! Miners just hit a whopping $106.7 million in revenue, a record high. What’s even more mind-blowing? 75% of that money came from transaction fees alone!
Jonathan Merry, the big boss at banklessTimes, says “The rise in Bitcoin miner revenue, fueled by transaction fees, shows the strength of its network. It also highlights and acknowledges the important role of miners in securing the Bitcoin ecosystem.”
He added, “The revolution and evolution of the Bitcoin ecosystem are critical in redefining the digital finance landscape.”
Bitcoin miners achieved a historic milestone with a record-breaking $106.7 million in revenue, marking a significant moment in the cryptocurrency world.
A staggering 75% of this revenue stemmed from transaction fees, underlining the importance of these fees in miners’ earnings.
However, with the launch of the Rune protocol on April 19, coinciding with the Bitcoin halving, miners found themselves engaged in intense competition.
This competition, coupled with rising Bitcoin transaction fees, has led miners to explore alternative revenue streams, such as utilizing second-layer networks like the lightning network, to maximize their profits.