The income of Bitcoin miners reached a historical high amid high commissions and the launch of Runes

• On April 20, the daily income of miners reached $107.76 million.
• This is a new all-time high.
• According to the analyst, miner rewards per block still exceed 7 BTC due to high fees.
• The latter was dictated by the launch of the Runes protocol.
• The average commission on the network is still above $34.

On April 20, 2024, the daily income of Bitcoin miners reached an all-time high of $107.76 million, according to YCharts. This happened against the backdrop of high network fees associated with the launch of the Runes protocol.

Let us remind you that on April 20, a halving took place on the Bitcoin network.. At the same time, the Runes protocol was released, which is positioned by its developer, Casey Rodarmore, as an analogue of Ordinals.

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04/20/2024

16 min

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The new standard caused a surge in activity on the network, which in turn led to an increase in the average fee per transaction. Immediately after the halving, it fluctuated between $91 and $112 or more.

Commissions are one of the sources of income for Bitcoin miners. As a result, the receipts of these counterparties did not decrease after the halving, as expected, but increased.

On April 20, the daily income of miners reached $107.76 million. This is the first time the indicator has reached such a high value. The previous maximum was recorded in April 2021:

. Источник: YCharts.” class=”wp-image-224351″ srcset=”https://incrypted.com/wp-content/uploads/2024/04/miners-1.png 844w, https://incrypted.com/wp-content/uploads/2024/04/miners-1-300×127.png 300w, https://incrypted.com/wp-content/uploads/2024/04/miners-1-768×324.png 768w” sizes=”(max-width: 844px) 100vw, 844px”>Daily income of Bitcoin miners. Source: YCharts

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The situation was brought to the attention of a crypto trader under the pseudonym 300DollarMARA. According to his data, miners’ income per block remains at pre-halving levels despite the fact that the reward was reduced to 3.125 BTC:

Note that at the time of writing, the average transaction fee on the Bitcoin network has decreased to $34.8. This is a noticeable decrease, but the indicator is still higher than the pre-halving values:

. BitInfoCharts.” class=”wp-image-224352″ srcset=”https://incrypted.com/wp-content/uploads/2024/04/fee.png 1313w, https://incrypted.com/wp-content/uploads/2024/04/fee-300×62.png 300w, https://incrypted.com/wp-content/uploads/2024/04/fee-1024×211.png 1024w, https://incrypted.com/wp-content/uploads/2024/04/fee-768×158.png 768w” sizes=”(max-width: 1313px) 100vw, 1313px”>Average commission in the Bitcoin network. BitInfoCharts.