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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-miners-see-significant-gains-amid-rising-transaction-fees/" data-wpel-link="internal">Bitcoin Miners See Significant Gains Amid Rising Transaction Fees</a><br></p>
<p style="text-align: justify"><strong><a href="https://en.coin-turk.com/bitcoin-analyst-predicts-supersonic-blast-that-could-push-btc-to-60000/" data-wpel-link="internal">Bitcoin</a> (<a href="https://en.coin-turk.com/bitcoin-dominates-as-institutional-crypto-investments-soar/" data-wpel-link="internal">BTC</a>)</strong> miners are reaping significant gains thanks to the increase in transaction fees, which have reached their highest levels since April 2021, particularly due to the growing demand for ordinal numbers. The positive momentum in the market throughout the year has served as a valuable recovery for miners, compensating for the challenges faced during the negative conditions of 2022.</p> 
<h2 id="bitcoin-mining-profits">Bitcoin Mining Profits</h2> 
<p style="text-align: justify">Therefore, miners seem to have profited from this notable rise this month. In the last 24 hours, Bitcoin miners have made a significant sale by disposing of more than 3,000 BTC, equivalent to approximately 129 million dollars. According to the latest CryptoQuant data shared by analyst Ali Martinez, there has been a continuous decline in Bitcoin miners’ reserves since the beginning of December.</p> 
<p style="text-align: justify">The significant investments of miners have the potential to impact Bitcoin’s price dynamics. Such large-scale transactions occurring within a short time frame often attract the attention of market participants and analysts, leading to speculation about their potential impact on the broader market. Currently, Bitcoin miners own approximately 1,834,447 BTC, with the most recent sale of 3,000 BTC taking place.</p> 
<p style="text-align: justify">Bitcoin miners are keeping up with the new wave of the BRC-20 token standard that increases transaction fees. Miners on the network are accumulating extra profits in satoshis, taking advantage of this trend. Earlier this month, it was reported that the three leading Bitcoin mining pools, which make up the majority of the market share, obtained nearly one-third of their profits solely from transaction fees.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-295909 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/12/miner.jpg" alt="" width="1424" height="902"></p> 
<h2 id="2-million-daily-revenue-for-miners-in-2023">$2 Million Daily Revenue for Miners in 2023</h2> 
<p style="text-align: justify">Foundry USA, which dominates 26% of the market, has earned an average of 3.23 BTC per block from transaction fees during this period. Concurrently, its largest competitor based in Beijing, China, Antpool, has collected an average of 3.26 BTC per block. In 2023, Bitcoin miners have been earning an average daily transaction fee revenue of 2 million dollars. This could indicate a significant increase of 400% compared to the averages of the previous year. Coin Metrics data previously revealed that Bitcoin miners’ total revenue in 2023 surpassed 10 billion dollars, contributing to the total revenue of 57 billion dollars collected over the last 14 years.</p> 
<p style="text-align: justify">In December, miners’ total daily revenue, including block rewards and transaction fee revenues, witnessed a peak reaching 64 million dollars annually. Particularly since the beginning of December, the daily mining operation revenue consistently remained above 33.85 million dollars, indicating a profitable profit trend for miners in the fourth quarter of 2023. Additionally, Coin Metrics reported that the quarterly mining revenues in 2023 exceeded 2 billion dollars over the last three years, with transaction fees collected by miners surpassing 180 million dollars in both the second and fourth quarters.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-miners-see-significant-gains-amid-rising-transaction-fees/" data-wpel-link="internal">Bitcoin Miners See Significant Gains Amid Rising Transaction Fees</a></h5>

Bitcoin Miners See Significant Gains Amid Rising Transaction Fees

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