Bitcoin Miners’ Revenue Hits Two-Month High Amid Rising Transaction Fees

Bitcoin miners’ revenue reached a two-month high on Thursday, amid rising demand for the cryptocurrency.

The boost came as miners decided to hold onto their BTC rather than cashing out, a shift not seen in over a month. With Bitcoin nearing its peak of $73,700, this strategy points to a potential bullish breakout.

The spike in earnings, reaching 552 BTC (over $37 million), was mainly driven by increased transaction fees on the network, which have surged 166% over the past week.

This fee jump contributed to higher mining rewards and consistent revenue growth. For the first time since mid-September, miners refrained from selling, accumulating 658 BTC instead.

READ MORE:

Bitcoin Poised to Surpass $70,000 Amid Political Changes, Says Matrixport

Currently, Bitcoin is trading near $68,321, just shy of a significant resistance point, with rising momentum indicated by the Relative Strength Index approaching overbought levels.

Alexander Zdravkov

Alexander has been working in the crypto industry for three years, during which time he has established himself through his active participation in monitoring market dynamics and technological innovations. His interest in cryptocurrencies and new technologies is not just a professional commitment, but a deep personal passion. He follows the news in the sector daily, analyzes trends, and is excited about every new step in the development of blockchain solutions. His enthusiasm drives him to continuously learn and share knowledge, as he sees the future in digital finance and its role in global transformation.