Bitcoin miner revenue from transaction fees has plunged to its lowest level since March 2012 when measured in BTC, according to data shared by Bitcoin Magazine Pro.
This decline reflects a broader trend of low on-chain activity and a surge in empty block production, raising concerns about the long-term sustainability of the network’s incentive model.
The chart provided shows a sharp drop in BTC-denominated fee income, despite the asset’s USD price hovering near all-time highs. While fees have historically surged during periods of heightened activity, the current lull suggests fewer transactions are competing for block space.
With fewer users opting to pay premiums to get included in blocks, miners are now increasingly reliant on block subsidies to remain profitable. This dynamic could grow more problematic after future halvings, which will continue to reduce the BTC block reward every four years.
Questions are mounting over whether future upgrades or alternative Layer 2 usage will revive fee markets. Some also worry that extended periods of low revenue may cause miner centralization or discourage new infrastructure investment.
As miners face tightening margins, the industry will closely monitor whether upcoming catalysts—such as ETF inflows or increased institutional adoption—can reverse the current fee drought. For now, the network must contend with the lowest miner fee earnings in more than a decade.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/bitcoin-miner-fees-hit-13-year-low-in-btc-terms/