Halved Revenue? Bitcoin Miners Don’t Care As Hashrate Sets New ATH
Summary
Bitcoin recently completed its fourth Halving, reducing block rewards to 3.125 BTC from 6.25 BTC. Miners' income comes from block rewards and transaction fees, with the former historically dominant. The 7-day average Bitcoin hashrate hit an all-time high of 650 EH/s on the day of the Halving, indicating miners' continued interest. While some miners have disconnected post-Halving, the hashrate remains near ATH levels, suggesting minimal impact. The spike in transaction fees, now contributing 30% of total miner revenue, may be encouraging miners to stay despite reduced block rewards. Bitcoin is currently trading at around $66,100, up more than 3% over the past week.
