Source: Coin MetricsSustaining mining incentivesAccording to Coin Metrics, more transaction activity on the Bitcoin network would help sustain economic incentives for miners post-halving.“Over time, increased participation from higher-value or more time-sensitive activity could help drive stronger fee revenue, supporting miner incentives as block rewards decline,” it said. However, for now, “[t]ransactions below $100 currently represent ~60% of Bitcoin’s total transaction count,” according to Coin Metrics.
Bitcoin (BTC) mining revenues hit $3.7 billion in the fourth quarter of 2024, a 42% increase from the prior quarter, and are approaching similar levels of around $3.6 billion in Q1 2025, according to data from Coin Metrics. The revenue uptick suggests miners’ incomes are stabilizing after the Bitcoin network’s “halving” in April 2024 reduced mining rewards from 6.25 BTC to 3.125 BTC per block.
In fact, Bitcoin’s hashrate — the total computing power securing the network — broke all-time highs in January, CoinWarz data showed. Common adjustments have included “upgrading to more energy efficient ASICs, [and] relocating to regions with cheaper and abundant renewable energy resources,” such as Africa and Latin America, Coin Metrics said.
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Author / Journalist: Cointelegraph by Alex O’Donnell
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