On Tuesday, the transaction fees on bitcoin represented 75% of the current block reward, currently at 6.25 BTC, as opposed to the usual 2%-5%, said Tim Rainey, treasurer at Greenidge Generation Holdings (GREE). “This is approximately equivalent to the increase in mining revenue if the bitcoin price surged from the current $28,000 level to $50,000,” he said.
Source: https://www.coindesk.com/business/2023/05/11/bitcoins-high-fees-brought-back-bull-market-level-mining-revenue-but-not-for-long/?utm_medium=referral&utm_source=rss&utm_campaign=headlines