One reason for the same has been a decline in the cost of transactions for miners, which has decreased from $96 USD to $79 USD. This decrease in transaction cost has positively impacted profitability, as miners can now earn more with fewer expenses.Many mining pools have seen profitability as well, with pools such as Foundry USA and Antpool taking up a large share of the BTC that was mined.
Over the last six months, Foundry and Antpool have mined 7,769 and 5,189 blocks, respectively.Another reason why miners have started to see profits is due to the increased activity on the network. As exchange transfers are relatively low, it can be deduced that most of this activity is due to peer-to-peer transactions and through the introduction ofAdditions of these ordinals attracted a large amount of retail investors to the Bitcoin network as well.
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