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Bitcoin miner fees stay elevated, boosting daily revenue to $1.8M
Uncovering the impact of Ordinals and BRC-20 tokens on Bitcoin miner fees and revenue growth.
Quick Take
- Looking at Bitcoin miner fees, they are still elevated compared to previous years.
- The total fee paid to miners is currently around 70 Bitcoin per day, $1.8 million.
- Before Ordinals and BRC-20 tokens became a thing this year, on average, miners received around 20 Bitcoin daily.
- The percentage of miner revenue derived from fees is roughly 8%, according to Glassnode data as of June 2, but it went as high as 50% during the peak demand for BRC-20 tokens.
- We see Bitcoin miner balance to be healthy due to the ongoing elevated fees they have received.
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