Transaction fees dominate the income of Bitcoin miners

According to data from Glassnode, the source of income for Bitcoin miners is undergoing significant changes, mainly driven by transaction fees. In early 2024, the proportion of miner's income from transaction fees peaked at nearly 72% in April and then stabilized at a lower level. This change is related to the launch of Runes during the halving period, indicating an increase in demand for transaction processing.

Historical data shows that surges in fee income are usually associated with price fluctuations or network activity. The latest trend suggests that when Bitcoin prices and network activity increase, miners can profit from transaction fees, highlighting the key role of transaction fees in miner's income. Understanding these trends is very important for predicting the financial health of miners and network economy.