Bitcoin miners’ revenue from fees for the year up 400%

The average daily revenue miners earn from transaction fees on Bitcoin exceeded $2 million — the annual figure rose 400%. Co-founder and CTO of Casa, Jameson Lopp, drew attention to this.

Revenue collected via transaction fees by bitcoin miners averaged nearly $2,000,000 per day in 2023. This is up 400% year over year. pic.twitter.com/zZjUwy1Gbh

— Jameson Lopp (@lopp) December 23, 2023

Total bitcoin miners’ revenue for 2023 was about $10 billion, and over the last 15 years — $57 billion.

The assessment assumes miners immediately convert the proceeds into fiat. However, according to Lopp, they often resort to the hodling strategy.

According to The Block Research, mining profitability per TH/s reached a two-year high of $0.12.

On the same day, the mining difficulty of the first cryptocurrency reached a historical maximum of 72.01 T, with the average hash rate over the period since the previous adjustment at 512.55 EH/s.

In the Coin Metric report Coin Metric it notes that mining performance rose from 250 EH/s at the start of the year to 480 EH/s currently.

In December, the Ordinals boom led to a sharp rise in bitcoin fees and miners’ revenues.