Editor's Note: This article comes fromCybtc Blockchain (ID: cybtc_com), reprinted by Odaily with authorization.

Editor's Note: This article comes from

Cybtc Blockchain (ID: cybtc_com)

Cybtc Blockchain (ID: cybtc_com)

Bitcoin (BTC) miners can earn 0.97 BTC (currently worth about $49,000) in transaction fees per block, according to data site Clark Moody Bitcoin. This is an average over the past 2,000 blocks, which means that many of these blocks may have fees higher than 1 bitcoin.

When Bitcoin miners mine a block, they are paid a flat fee of 6.25 bitcoins (although it is halved every four years) and receive transaction fees for all transactions in that block.

But transaction fees have been on the rise lately (about $20) and make up a higher percentage of total rewards. Bitcoin miners now collectively earn about $40 million per day. Therefore, fees alone account for 13.47% of the total revenue of Bitcoin miners.

This suggests that as Bitcoin mining rewards decline over time, fees may continue to increase and replace them, providing miners with a continuing economic incentive to keep the network running and secure.

image description

The surge in demand has pushed up Bitcoin fees. Image: ycharts