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Runes are offering a significant lifeline for Bitcoin miners — TeraWulf CEO

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The transaction fees are the 'wild card' for Bitcoin miners, with the current increase representing a crucial revenue boost for BTC miners, according to TeraWulf's CEO, Nazar Khan.

The transaction fees are the “wild card” for Bitcoin miners, with the current increase representing a crucial revenue boost for BTC miners, according to TeraWulf’s CEO, Nazar Khan.

As the rest of the Bitcoin block reward is fixed issuance, the transaction fees are the “wild card” for Bitcoin (Total Bitcoin transaction fees stood at 105 Bitcoin on April 25, down from its peak of 1,257 on April 20 — the day of the Bitcoin halving —On average, transaction fees made up 30% of the Bitcoin block rewards since the halving, which is almost an additional Bitcoin for miners, on top of the existing block rewards, Khan...

Transaction fees comprised an average of 10% of Bitcoin block rewards in 2023. TeraWulf assumed an average post-halving Bitcoin production cost of $37,000 per BTC, assuming a 10% average transaction fee.

 

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