Bitcoin Fees

MARA Reports 2% Increase in Bitcoin Mining for October 2024; Transaction Fees Account for 5% of Total Production

November 5, 2024 Bitcoin.com

Bitcoin Fees

MARA (NASDAQ: MARA) has released its unaudited Bitcoin production update for October 2024, reporting a total production of 717 Bitcoin, which represents a 2% increase compared to the previous month. The company’s energized hash rate increased by 14% to reach 40.2 EH/s, marking the highest production month since the Bitcoin halving event in April. Despite […]

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Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Galaxy Research warns of sustainability issues for Bitcoin layer-2 rollups

August 4, 2024 Coin Telegraph

Bitcoin Fees

The future of Bitcoin rollups will depend on continued innovation and optimization in data compression and scalability.

A Galaxy Research report has suggested that most Bitcoin layer-2 scaling networks, particularly “rollups,” may not be sustainable in the long term despite their popularity as a promising method to keep Bitcoin payments cheap, fast and decentralized. 

In the report published on Friday, Aug. 2, Galaxy analyst Gabe Parker highlighted the cost of posting data as a fundamental challenge Bitcoin rollups face that post data to the base layer.

Parker explained that for Bitcoin rollups to thrive, they must generate substantial revenue from transaction fees on their own networks. This revenue must come from many users willing to pay for transactions on the layer-2 networks.

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Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Bitcoin Miners’ Average Revenue Per Block Dips 25% in 3 Days, Falling to 3.83 BTC

April 26, 2024 Bitcoin.com

Bitcoin Fees

In the last 24 hours, bitcoin miners have faced significantly reduced earnings, with the current hashprice lingering at a significant low. Just five days ago, miners were harvesting an average of 5.105 BTC per block, between a blend of new BTC and transaction fees, following a peak in the hashprice. However, the average yield per […]

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Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Post-Halving Fallout: Bitcoin Hashprice Slides 30%, Miners’ Earnings Hit

April 23, 2024 Bitcoin.com

Bitcoin Fees

Following a peak in onchain fees, bitcoin miners experienced a significant decline in the hashprice, which fell from a daily rate of $114 per petahash on Sunday to a markedly lower $79 per petahash by Tuesday. To date, the network’s hashrate has experienced a modest decline, though nothing too substantial yet, following the completion of […]

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Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Bitcoin Miner Rewards Shrink Below Pre-Halving Levels as Network Fees Fall Sharply

April 21, 2024 Bitcoin.com

Bitcoin Fees

After experiencing a period of high fees, onchain transfer costs on the Bitcoin network have decreased significantly. On Friday, the fees peaked at $240 per transaction, but by now they have fallen to just $11.06 each. Since reaching block height 840,179, miners are now earning less bitcoin in rewards compared to before the halving event […]

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Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

93 Blocks, $71 Million in Fees: Bitcoin Mining Revenue Booms Post-Halving

April 20, 2024 Bitcoin.com

Bitcoin Fees

Since the halving, miners have successfully extracted 93 blocks, accumulating a significant 1,087.99 bitcoins valued at approximately $71.04 million solely from transaction fees. As of 2:00 p.m. EDT on Saturday, the current metrics indicate a high-priority transaction cost of 492 satoshis per virtual byte (sat/vB), equivalent to $44.83 per transfer. Bitcoin Mining Landscape Transforms With […]

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Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Bitcoin Halving, Runes Proliferation Results in Historic Fee Increases, Crypto Community Reacts

April 20, 2024 Bitcoin.com

Bitcoin Fees

Following the Bitcoin halving event, onchain fees climbed to over $240 per transaction just an hour later, and as of now, a high-priority transfer costs between $52 and $78 per transaction at 10:30 a.m. Eastern Time on Saturday. The increasing fees have prompted a flood of comments from individuals in the crypto space, as this […]

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Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Bitcoin Miners Smash Previous Revenue Records Post-Halving; Over $54M Collected in 60 Blocks

April 20, 2024 Bitcoin.com

Bitcoin Fees

Since the halving, 63 blocks have been mined, and bitcoin miners have accumulated substantial fees following a dramatic increase in the fee rate. This surge took the cost per transaction from $18 to over $245, recorded at 9:00 p.m. EDT on Friday evening. Since then fees have dropped and by Saturday morning at 7:30 a.m. […]

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Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

After Halving Event, Bitcoin Transaction Fees Soar to Over $240

April 20, 2024 Bitcoin.com

Bitcoin Fees

Upon reaching block height 840,000, when the mining pool Viabtc collected 37.626 bitcoin in fees worth $2.39 million, the expense for onchain transfers climbed, surpassing $240 per transaction. Block 840,003 recorded 16.06 bitcoins in fee payments, and block 840,004 accumulated 24 bitcoins in fees valued at over $1.5 million. Bitcoin Transaction Fees Skyrocket Above $240 […]

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Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Transaction Fees Soar on Bitcoin Network as Network Braces for Halving

April 18, 2024 Bitcoin.com

Bitcoin (BTC)

According to recent data, bitcoin transaction fees have significantly increased since the first week of April. Metrics show that the average fee has escalated to 133 satoshis per virtual byte or $19.48 per transaction. Bitcoin Fees Climb Steadily as Runes Protocol Launch Nears The cost of sending bitcoin (BTC) onchain is climbing, with the halving […]

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Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K