Bitcoin Mining Profits Skyrocket by 400% in 2023 Averaging $2M Daily

In 2023, Bitcoin (BTC) miners saw their daily revenue from transaction fees rise to an average of around $2 million, marking a significant 400% increase from the previous year. This growth was highlighted in a recent post by Jameson Lopp, co-founder of the Bitcoin self-custody platform Casa.

According to Lopp’s analysis, the surge in Bitcoin’s value has substantially benefited miners, as evidenced by their increased earnings from transaction fees. He pointed out that on average, miners made almost $2 million per day in 2023 from these fees alone.

Moreover, Lopp revealed that the total earnings for BTC miners exceeded $10 billion in 2023. He did note, however, that this figure is based on the assumption that miners converted their Bitcoin into fiat currency immediately, a practice he implies is not entirely accurate.