The revenue structure of the Bitcoin mining industry is changing significantly. The analysis found that miners’ fee income from processing transactions has increased significantly recently. Last week, these fees exceeded standard block rewards, signaling a possible shift in the traditional way miners generate revenue.
Usually miner income comes from block rewards and transaction fees. Over the past week, transaction fees accounted for approximately 30% of its total revenue, with this figure falling to 15% on December 24. According to Glassnode data, inscriptions account for an increasing proportion of these costs.
Furthermore, if the trend of declining total miner revenue continues (due in part to the high cost of mining operations), and inscriptions continue to grow as a proportion of total fees, miners may become increasingly supportive of inscriptions. (CryptoSlate)