๐ธ ๐๐ถ๐๐ฐ๐ผ๐ถ๐ป ๐ ๐ถ๐ป๐ฒ๐ฟ๐ ๐ฆ๐๐ฟ๐๐ด๐ด๐น๐ฒ ๐ฎ๐ ๐ง๐ฟ๐ฎ๐ป๐๐ฎ๐ฐ๐๐ถ๐ผ๐ป ๐๐ฒ๐ฒ๐ ๐๐ฎ๐น๐น ๐๐ผ ๐ฏ-๐ฌ๐ฒ๐ฎ๐ฟ ๐๐ผ๐
Bitcoin may be trading above $100Kโbut miners arenโt celebrating.
๐ Transaction Fees Hit Bottom:
Miners are now earning less than 1% of their income from transaction fees, the lowest share since 2022, according to Luxorโs Hashrate Index.
๐ฐ Block Rewards Remain, but Fees Shrink:
Each mined block still gives 3.125 BTC (~$327,000), but with average transaction fees just $1.45, the additional earnings are minimalโespecially when on-chain activity is low.
๐ป Why This Hurts Miners:
Fewer transactions = fewer fees. And after April 2024โs halving, which cut rewards in half, many miners now rely almost entirely on block rewardsโsqueezing profits even further.
๐ฆ BTC Selling Pressure from Miners:
In April, miners offloaded 15,000 BTC ($1.12B) to cover costsโespecially after market dips linked to Trumpโs trade policy moves.
โ๏ธ Efficiency Is the New Survival Strategy:
Experts say miners who survive this phase will be the ones with cheap electricity and efficient rigs, not just those betting on higher BTC prices.
โก๏ธ As Bitcoin adoption grows, miner health may depend more on network activity than price alone. Keep an eye on fee trendsโthey tell the real story.