© Reuters

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: Glassnode
Daily Revenue of Bitcoin Miners. Source: Coin Metrics
RIOT and MARA price charts. Source: TradingView
Year-to-date returns of RIOT, MARA and BTC. Source: TradingView
Marathon Digital Holdings short interest data. Source: Fintel
Riot Platforms short interest data. Source: Fintel
MARA price chart. Source: TradingView
RIOT price chart. Source: TradingView