Bitcoin miners raked up $184M in fees in Q2, surpassing all of 2022
It's been one of the most lucrative quarters for those that profit from Bitcoin transaction fees in nearly two years. Bitcoin (BTC) miners made a lofty $184 million from transaction fees in the second quarter, far more than what they pocketed over the entire 2022 — as Bitcoin’s price surged and BRC-20 tokens flourished. The $184 million payout is more than a 270% increase from the first quarter of 2023 and it is the first quarter to have surpassed the $100 million mark since Q2 2021, according to a July 5 report from cryptocurrency analytics platform Coin Metrics. Bitcoin miners earned more from fees in Q2 than the previous five quarters combined. Source: Coin Metrics Bitcoin miners receive transaction fees whenevea new block has been validated, the amount of which is determined by the data volume and the user demand for block space. Coin Metrics said the jump in fees was due to Bitcoin’s recent price surge bolstered ‘top-line revenues” and the advent of BRC-20, a new token stand...