{"id":91227,"date":"2025-11-20T12:09:41","date_gmt":"2025-11-20T09:09:41","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=91227"},"modified":"2025-11-20T12:11:29","modified_gmt":"2025-11-20T09:11:29","slug":"bitcoin-miners-fee-income-sinks-to-a-12-month-low","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitcoin-miners-fee-income-sinks-to-a-12-month-low\/","title":{"rendered":"Bitcoin miners\u2019 fee income sinks to a 12-month low"},"content":{"rendered":"<p>Transaction-fee takings for miners of the first cryptocurrency have fallen to a 12-month low, according to The Block.\u00a0<\/p>\n<p><iframe loading=\"lazy\" width=\"100%\" height=\"420\" frameborder=\"0\" src=\"https:\/\/www.theblock.co\/data\/on-chain-metrics\/bitcoin\/bitcoin-miner-revenue-daily\/embed\" title=\"Bitcoin Miner Revenue (Daily, 7DMA)\"><\/iframe><\/p>\n<p>The figure has dropped to $300,000 a day \u2014 1% of miners\u2019 total revenue. Most income is generated by the block reward of 3.125 BTC (~$287 million at the current rate).<\/p>\n<p>Sharp spikes in fees were seen in 2023 and 2024 amid the popularity of protocols such as <a href=\"https:\/\/forklog.com\/en\/news\/what-are-ordinals-and-brc-20-tokens\">Ordinals<\/a> and <a href=\"https:\/\/forklog.com\/en\/news\/what-are-bitcoin-runes-and-how-do-they-differ-from-brc-20\">Runes<\/a>. They revived interest in the <a href=\"https:\/\/forklog.com\/en\/news\/will-btcfi-fuel-bitcoins-next-leg-up\">BTCFi<\/a> ecosystem.\u00a0<\/p>\n<p>On-chain data show that the network\u2019s primary use remains money transfers. That limits the scope for generating high transaction fees.<\/p>\n<p>Bitcoin\u2019s economic model envisages that by 2140, when coin issuance ceases, miners will earn solely from fees. That makes ever more pressing the question of whether the blockchain can sustain sufficient income to support network security.<\/p>\n<h2 class=\"wp-block-heading\">Bitcoin slides as fees fall\u00a0<\/h2>\n<p>According to a report by <a href=\"https:\/\/hashrateindex.com\/blog\/hashrate-index-roundup-november-17-2025\/\">Hashrate Index<\/a>, between 10 and 17 November miners earned 3,127 BTC (~$313 million) in block rewards.\u00a0<\/p>\n<p>Transaction fees totalled 22 BTC (~$2.1 million) \u2014 0.69% of overall takings.\u00a0<\/p>\n<p>The price of the digital gold fell 12.8% \u2014 from $105,700 to around $90,000. At the time of writing the asset trades at $92,300, up 0.5% on the day. Over the week, it has slumped by more than 11%.\u00a0<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"603\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-df75cf979252dfd6-10022337685973168-1024x603.png\" alt=\"image\" class=\"wp-image-270100\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-df75cf979252dfd6-10022337685973168-1024x603.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-df75cf979252dfd6-10022337685973168-300x177.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-df75cf979252dfd6-10022337685973168-768x452.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-df75cf979252dfd6-10022337685973168-1536x904.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/img-df75cf979252dfd6-10022337685973168.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Hourly BTC\/USDT chart on Binance. Source: <a href=\"https:\/\/ru.tradingview.com\/chart\/atJ4mYHE\/?symbol=BINANCE%3ABTCUSDT\">TradingView<\/a>.\u00a0<\/figcaption><\/figure>\n<p>Dollar-denominated hashprice fell 10.8% \u2014 from $42.88 to $38.25 per PH\/s\/day. In BTC terms it rose 2.6% \u2014 from 0.00040660 BTC to 0.00041712 BTC per PH\/s\/day.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"435\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-666dc50d9bcfa20e-10022351552971099-1024x435.png\" alt=\"image\" class=\"wp-image-270101\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-666dc50d9bcfa20e-10022351552971099-1024x435.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-666dc50d9bcfa20e-10022351552971099-300x127.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-666dc50d9bcfa20e-10022351552971099-768x326.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-666dc50d9bcfa20e-10022351552971099-1536x653.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/img-666dc50d9bcfa20e-10022351552971099.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/data.hashrateindex.com\/network-data\/bitcoin-hashprice-index\">Hashrate Index<\/a>.\u00a0<\/figcaption><\/figure>\n<p><a href=\"https:\/\/forklog.com\/en\/news\/what-are-hashrate-and-mining-difficulty-in-cryptocurrencies\">Hashrate<\/a> (<span data-descr=\"seven-day moving average\" class=\"old_tooltip\">7 DMA<\/span>) increased by 6.7% \u2014 from 1,056 EH\/s to 1,127 EH\/s. The 30-day SMA currently stands at 1,107 EH\/s.\u00a0<\/p>\n<p>The latest difficulty adjustment occurred on 12 November. The metric fell 2.37% to 152.27 T.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"483\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-fa81ffdbe647a629-10022377585259879-1024x483.png\" alt=\"image\" class=\"wp-image-270102\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-fa81ffdbe647a629-10022377585259879-1024x483.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-fa81ffdbe647a629-10022377585259879-300x141.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-fa81ffdbe647a629-10022377585259879-768x362.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-fa81ffdbe647a629-10022377585259879-1536x724.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/img-fa81ffdbe647a629-10022377585259879.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/explorer.cloverpool.com\/ru\/btc\/insights-difficulty\">CloverPool<\/a>.<\/figcaption><\/figure>\n<h2 class=\"wp-block-heading\">Bitcoin miners\u2019 shares rally on Nvidia results<\/h2>\n<p>Shares in public mining companies rose after the <a href=\"https:\/\/forklog.com\/en\/news\/nvidias-quarterly-results-dispel-talk-of-an-ai-bubble\">release of Nvidia\u2019s strong quarterly report<\/a>. The firm reported record revenue of $57 billion.\u00a0<\/p>\n<p>Cipher Mining climbed by more than 13%, IREN by 10%. Bitfarms, TeraWulf and CleanSpark also gained. The shares of the largest miner by market value \u2014 MARA \u2014 jumped 4%.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"546\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-4cb1f91e30b10c17-10022394569737174-1024x546.png\" alt=\"image\" class=\"wp-image-270103\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-4cb1f91e30b10c17-10022394569737174-1024x546.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-4cb1f91e30b10c17-10022394569737174-300x160.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-4cb1f91e30b10c17-10022394569737174-768x410.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-4cb1f91e30b10c17-10022394569737174-1536x819.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/img-4cb1f91e30b10c17-10022394569737174.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Nvidia shares rose 5%. Source: <a href=\"https:\/\/finance.yahoo.com\/quote\/NVDA\/\">Yahoo Finance<\/a>.\u00a0<\/figcaption><\/figure>\n<p>Renewed interest in crypto miners is linked to their <a href=\"https:\/\/forklog.com\/en\/news\/hash-rate-gives-way-to-ai-bitcoin-miners-bet-on-data-centres\">diversification strategy<\/a> into artificial intelligence. In late October, Crusoe <a href=\"https:\/\/forklog.com\/en\/news\/crusoe-secures-1-375-billion-for-ai-infrastructure-development-with-openai\">raised<\/a> $1.375 billion to develop AI infrastructure for OpenAI, and in early November IREN <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-miner-iren-secures-9-7-billion-contract-with-microsoft\">signed<\/a> a $9.7 billion contract with Microsoft.\u00a0<br \/>Earlier, MARA CEO Fred Thiel <a href=\"https:\/\/forklog.com\/en\/news\/mara-ceo-predicts-tough-times-ahead-for-miners\">predicted<\/a> tough times for miners amid rising competition and declining profitability.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin miners\u2019 transaction-fee income fell to a 12-month low, The Block\u2019s data show.<\/p>\n","protected":false},"author":1,"featured_media":91228,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"The figure fell to $300,000 per day","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1137],"class_list":["post-91227","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-cryptocurrency-mining"],"aioseo_notices":[],"amp_enabled":true,"views":"187","promo_type":"1","layout_type":"1","short_excerpt":"The figure fell to $300,000 per day","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/91227","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=91227"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/91227\/revisions"}],"predecessor-version":[{"id":91229,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/91227\/revisions\/91229"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/91228"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=91227"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=91227"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=91227"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}