Bitcoin Miners See Windfall After Launch of Runes Protocol Causes Record Transaction Fees
The recent "halving" of Bitcoin was expected to lead to a decrease in revenue for crypto miners, but the launch of Casey Rodarmor's Runes protocol caused network congestion and record-high transaction fees, resulting in a windfall for Bitcoin miners. On the day of the halving and Runes launch, total revenue for Bitcoin miners reached a record $107.8 million. The success of Runes could benefit major Bitcoin mining firms, as it allows for the creation of digital tokens on the Bitcoin blockchain. Experts predict that as Bitcoin becomes a $10 trillion+ asset, the industry will undergo significant changes, and the impact of the halving on miner revenue may be lessened if transaction fees remain high.
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