Bitcoin Miners Earned 23431 BTC via Fees in 2023
"The new demand for block space made 2023 a very lucrative year for miners."
- "In 2023, Bitcoin added 53,999 blocks, weighing a combined 210 billion weight units. Those blocks confirmed 153,415,993 transactions, and earned 23431.56748471 BTC in fees," reported @mononaut on X.
- "With the rise of ordinals and inscriptions this year, an increasing share of that block space was consumed by NFTs, fungible tokens and related trading activity."
According to mononaut's analysis:
- jpeg enjoyers paid 557 BTC in transaction fees;
- speculators paid 6542 BTC to mint fungible tokens;
- and together they spent over 1000 BTC in fees to trade their assets in PSBT swaps.
- Here's how that demand evolved during the year, broken down by transaction type:
- Here's how those transactions contributed to fees:
- This is how the % of fees paid by data-embedding transactions varied by type during the year:
- "These weights and fees for data-embedding transactions may be a little higher than you've seen reported elsewhere. That's because I'm including a wider range of protocols (like runes, stamps and atomicals), and also counting both commit & reveal transactions for inscriptions," explained @mononaut.
