Bitcoin miner revenue


Miner revenue from fees has experienced a substantial surge, with certain blocks in 2023 generating fees that surpassed the 6.25 BTC subsidy. Two notable spikes in fees occurred this year, constituting approximately 25% of miner revenues. This level of fee contribution aligns with the exuberant phases observed during the 2017 and 2021 bull markets. In conclusion, the increased reliance on fees indicates a significant shift in the revenue composition for miners, reminiscent of previous bullish periods in the cryptocurrency market.

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