Transaction fees dominate Bitcoin miners’ revenue

Odaily Odaily News According to data from Glassnode, the source of Bitcoin miners' income is changing significantly, mainly driven by transaction fees. In early 2024, the proportion of miners' income from transaction fees peaked at nearly 72% in April and then stabilized at a lower level. This change is related to the introduction of Runes during the halving, indicating an increase in transaction processing demand. Historical data shows that surges in fee income are often associated with price fluctuations or network activity. The latest trends show that miners can profit from transaction fees when Bitcoin prices and network activity increase, emphasizing the key role of transaction fees in miners' income. Understanding these trends is important for predicting the financial health of miners and the economy of the network.