Bitcoin moves over $5 billion in value but miners collect just $185,000 in transaction fees
Summary
Bitcoin’s entity-adjusted transfer value rose 26% to $5.5 billion last week, while transaction fees fell 8.8% to $185,200 and active addresses declined 2.2%. The figures show that higher dollar value transfers are not necessarily creating more demand for blockspace or higher fees. Fees supplied less than 1% of miner revenue in recent periods, with block subsidies providing nearly all earnings. This leaves miners reliant on Bitcoin prices and operating-cost control, especially as the 2028 halving is expected to cut the block subsidy from 3.125 BTC to 1.5625 BTC. Sustained low fee competition could make that reduction harder to absorb.
