Bitcoin miners recently achieved a significant milestone in their transaction validation revenue, which surged rapidly after the halving.
This event occurred shortly after Bitcoin’s latest halving, a scheduled adjustment that happens roughly every four years to reduce the rewards miners receive for adding new blocks to the blockchain.
Colin Wu, a prominent figure in crypto journalism, highlighted this development through a post on the X social media platform.
Bitcoin Miners Profit from Transaction Fees
According to Coin Edition’s report, based on data from the Blockchain Explorer, on Saturday (20/4/2024), Bitcoin miners successfully accumulated an impressive revenue of US$107.7 million.
This figure stands out because up to 75.44 percent of this revenue comes directly from network transaction fees, rather than block rewards.
This change indicates a significant dependence on transaction fees, which may indicate an increase in the volume and value of transactions processed on the network.
The record revenue of US$107.7 million on April 20 marks a sharp contrast compared to the revenue the day before, which was reported to be around US$71 million. Over the past few months, miner revenue has followed the fluctuations in BTC price. (*)
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