Although the halving affects the profitability of Bitcoin miners, profits since this event occurred have been almost $500 million.
In the last week, Bitcoin network miners have generated profits of around $500 million, according to data from The Block Research platform, which is one of the most profitable times for crypto miners, despite the halving event.
Halving events, which halve the BTC reward for each new block, affect miners' profitability precisely because they decrease their income per block. However, on April 20, the day the halving occurred, the miners' profitability decreased by XNUMX%, fourth halving Bitcoin also saw the launch of a new token protocol, called Runes, which brought unexpected profits for miners on the blockchain network.
Runes boosted Bitcoin miners' earnings
Glassnode, a major blockchain analytics firm, revealed that on the day of the halving, Bitcoin miners earned $106,7 million, of which only 24,5% came from the network's block reward. 75,4% The remaining $80,5 million came from transaction commission fees, which were significantly boosted by the arrival of the new token protocol.
In the days since then, miners have earned between $55 million and $72 million. As seen in data from The Block Research, miner earnings on the network have been declining as BTC commission rates return to normal.
Source: The Block Research
On the day of the halving, Bitcoin commission fees broke records, exceeding $200 for simple transactions. However, at the time of writing, the fees are still at $XNUMX. network rates fell significantly, hovering around $2,70 for high-priority transactions.
Runes has sparked a lot of interest in the crypto community, thanks to the possibility it offers to mint tokens on what is the most robust blockchain in the crypto industry. The RuneAlpha platform shows that, since its launch to date, more than 1000 tokens have already been recorded. 26.800 runes on the Bitcoin blockchain, which is optimized for security.
Continue reading: Glassnode: Bitcoin miners earned over $100 million on halving day
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