On-chain data shows the Bitcoin mining revenue has neared its yearly average, a sign that capitulation could be coming to a close for miners.
Bitcoin Miner Revenue Is Now Close To Its 365-Day SMA
In a new post on X, analyst James Van Straten has discussed about how the situation of the BTC miners is looking like right now. There are different ways to gauge the condition of the miners, with a popular one being the hashrate, which is a measure of the total computing power connected to the Bitcoin network.
Here, though, the analyst has made use of the daily total revenue of these chain validators. There are two parts to miner revenue: block subsidy and transaction fees.
The first of these refers to the BTC rewards that miners receive as compensation for solving blocks on the network, while the latter one is the payment users bundle with individual transactions. Historically, the block subsidy has made up for a much more significant part of the miner revenue than the transacti
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