Due to the hype around BRC-20, the profit of bitcoin miners increased

During the day, bitcoin miners' rewards from the commission for transactions in recalculation per block became more rewards for its extraction (6.25 BTC). According to Glassnode, this was due to the release of the BRC-20.

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Over the past month, miners have been able to earn over $ 100 million exclusively on commissions. The profit from finding the blocks was only $ 773 million. The share of commissions from total revenues was more than 11%. This coincides with the high levels that were in 2017 and in 2021, when the bull market was observed.

The profit of miners in terms of hashrate could reach 172 thousand dollars per EH. However, it was not for long, as then the indicator fell by 55%. It amounted to a little more than 76 thousand dollars per EH.

Experts noted that due to the active demand for the crypto space, miners experienced an increase in income. Now it is not durable and not so significant when compared with the downward trend of the hashprice.

The revenue growth was due to the hype around the BRC-20, which is based on the Ordinals mechanism. It's all about text files that are added to the blockchain. Users were ready to pay for them. As a result, the number of transactions on the network jumped dramatically.

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