Bitcoin Miners Earned $187 Million in Transaction Fees in Q2 2023, a 300% Increase from Q1

Bitcoin miners earned $187 million in transaction fees (excluding network subsidies) in Q2 of 2023, a 300% increase from Q1. Network subsidies reached $2.5 billion in Q2, up from $1.93 billion in Q1. Bitcoin miners earn income from network subsidies and transaction fees, with May seeing the highest fee earnings at $125.9 million. The surge in fees coincides with increased activity around Ordinals, a protocol on the Bitcoin network, which has generated BRC-20 tokens with a total market capitalization of over $1.1 billion.

Bitcoin $92,710.29

-2.07%

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