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Bitcoin Miners Earned $184 Million in Transaction Fees Thanks to BRC-20 Tokens and Ordinals

Bitcoin miners have seen a surge in transaction fees, earning $184 million from April to June due to the popularity of BRC-20 tokens and Ordinals, according to Coin Metrics. This represents a significant change from the previously "tepid fee market" for Bitcoin miners.

Ordinals, which allows people to create NFT-like assets on Bitcoin, has been met with some pushback but has the potential to help miners stay profitable over time. BRC-20 tokens, which were introduced in March and have a market capitalization of over $240 million, have also contributed to the increase in transaction fees.

While the fervor surrounding BRC-20s has ebbed, miners are still making significantly more from transaction fees than they did last year.

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