April brought unprecedented highs and volatility for Bitcoin miners, with the anticipated halving and launch of Runes skyrocketing transaction fees and miner revenues. Fees shot up to 1,257 BTC, greatly bolstering miner profits. However, stability returned in May, despite ongoing market volatility. The BTC held in miner wallets saw a notable spike on April 20, reaching 1.807 million BTC before rapidly decreasing. But why did miners suddenly decide to offload their newly gained profit? Discover the pivotal factors that influenced their decision and its implications...
A flat month for miners after a volatile April A flat month for miners after a volatile April
Following Bitcoin's halving, miners moved from April's volatility to a period of stability and reduced activity as we enter June.
3 min read
Updated: Jun. 4, 2024 at 9:10 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.