Bitcoin Miners See Triple Revenue Spike After Halving, Fueled by Network Fees and Speculative Activity
According to a report by broker Bernstein, since the reward halving of bitcoin, miners have earned about 19 BTC per block on average, which is over and above the standard block rewards as a spike in network fees led to a tripling of revenue. The broker expects 15% of miner revenues to be network transaction fees on a sustainable basis. The launch of the Runes protocol over the weekend triggered a spike in network fees on the Bitcoin blockchain, indicating the level of developer interest and fee revenue potential for miners. While the speculative activity may be short-lived, the report notes that the fungible token market is largely untapped on the Bitcoin network, and miners may continue to enjoy above-normal windfall for now.
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