The CEO of TeraWulf, a co-founding company, has emphasized the positive impact of the Runes protocol on miners’ income amidst the aftermath of the halving. Nazar Khan stated that the launch of the protocol resulted in a significant increase in transaction volume and commission fees, leading to a rise in hashrate. Khan views the reduced block reward from 6.25 BTC to 3.125 BTC as a “wild card” for bitcoin miners.
Khan further highlighted the importance of higher commission fees, stating, “The launch of the Runes protocol significantly boosted miner income, bringing their revenue up to 30%.” Mining companies considered the decrease in the first cryptocurrency’s mining cost to $37,000 per coin, with a 10% commission share, when planning their profitability post-halving. Any surplus in this share enables miners to generate extra profits, according to the TeraWulf co-founder.
CoinShares analysts predict that commission fees will constitute between 15% and 30% of miners’ revenue in the coming months. Meanwhile, QCP Capital investment fund experts previously anticipated that Bitcoin’s supply restriction would contribute to the stabilization of its price in the short and medium term.
Isla MacKenzie covers Web3 culture, NFTs and the metaverse from Edinburgh. A former product writer at Sky and CodeBase, she has been on the BTCNews team since 2022 and runs our weekly Creators newsletter. Isla studied Digital Humanities at the University of Edinburgh and was named one of CityAM's '30 Under 30 in Crypto' in 2024. She writes about culture without losing sight of the underlying tech.
