Bitcoin

Block

Rewards

Bitcoin miners enjoyed a surge in revenue following the recent halving event, with transaction fees skyrocketing in the immediate aftermath. Data shows a dramatic rise in fees following the halving of the block reward. On Friday evening, the cost per transaction jumped from a modest $18 to a staggering $245, before settling at a still elevated $34 by Saturday morning. 
After the halving, bitcoin transaction fees surged due to heightened activity on the Runes protocol and efforts to capture newly minted runes. Viabtc’s processing of block 840,000 resulted in 3.125 BTC and 37.625 BTC in transfer fees from 3,050 transactions. 
The next twelve blocks, which included the Viabtc halving block, saw the miners of Bitcoin gain 257.043 BTC, or $16.35 million. After sixty blocks, Bitcoin miners had amassed more than 860 Bitcoin, worth more than $54 million. 
Upon reaching block height 841,005, Antpool, the mining pool, earned 32.946 BTC in fees. Throughout these 60 blocks, more fees were collected than in any preceding 24-hour period. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/04/20/bitcoins-840000th-block-halving-cuts-miner-rewards-by-50/" target="_blank" rel="noreferrer noopener" data-wpel-link="internal">Bitcoin’s 840,000th Block Halving Cuts Miner Rewards by 50%</a> 
</blockquote>

Bitcoin Miners Break Prior Revenue Records After Halving

The Crypto Times

Other articles published on Apr 20, 2024

The BEFE Coin Price Projections: Optimizing Investment Returns

Altcoin Growth Imminent – All You Must Know About Altcoin Season

Solana-Based Meme Coin Slothana’s Presale Ends Soon – Last Chance to Buy Before Launch

SEI Cryptocurrency Surges: A Comprehensive Rally Analysis

PKT To Integrate With Allora’s AI Price Predictions for Upcoming Bandwidth-Backed RWA Marketplace

Michael Saylor’s MicroStrategy May Reveal More Bitcoin Buy Next Week

Join our free newsletter for daily crypto updates!