Driven by heightened demand for (BTC) block space, fueled by Ordinals inscriptions and the PEPE-fueled BRC-20 memecoin mania, miners have become direct beneficiaries of a sudden boom in transaction fees, increasing their bottom lines.
This surge has resulted in an unprecedented increase in the average number of transactions, and consequently revenue per BTC block mined.
Bitcoin average fee paid per block. Source: GlassnodeDaily Revenue of Bitcoin Miners. Source: Coin MetricsRIOT and MARA price charts. Source: TradingViewYear-to-date returns of RIOT, MARA and BTC. Source: TradingViewMarathon Digital Holdings short interest data. Source: FintelRiot Platforms short interest data. Source: FintelMARA price chart. Source: TradingViewRIOT price chart. Source: TradingView
