December 2023 Sees Record Bitcoin Mining Revenue: $1.51 Billion Amassed With Soaring Onchain Fees

In December, bitcoin miners garnered the highest monthly gross of the year, amassing $1.51 billion. Additionally, this period marked a grounds successful interest collection, with miners securing $324.83 cardinal successful onchain transaction fees.

Bitcoin Miners Smash Records — Highest Monthly Haul of $1.51 Billion successful December 2023

December 2023 has acceptable a caller benchmark for monthly gross garnered by bitcoin (BTC) miners done artifact find and transaction verification. By Dec. 31, 2023, a full of $1.51 billion was amassed, including $324.83 cardinal successful onchain fees. This surpasses the erstwhile monthly gross grounds acceptable successful May, wherever miners collected a full of $919.22 million, with $125.92 cardinal from onchain fees.

In July, miners collected a full of $865 million, with $19.21 cardinal from fees. December, however, marked a important increase, lasting 1.64 times greater than May’s record, representing a maturation of 64.27% oregon an further $590.78 million. At the moment, according to bitinfocharts.com, December’s onchain transaction rates are soaring, with the mean interest astatine 231 satoshis per virtual byte (sats/vB) oregon $20.86 per transaction.

On Dec. 31, 2023, the median-sized interest is noted astatine $9.60 per transaction oregon 106.3 sats/vB. Moreover, connected Dec. 17, 2023, fees spiked to arsenic overmuch arsenic $40 per transfer, averaging astir $37.43 per transaction — the year’s highest successful on-chain fees, surpassing the erstwhile precocious of $31 connected May 8, 2023.

Also, connected Dec. 17, the hash price of Bitcoin — the worth of a azygous petahash per 2nd (PH/s) produced regular — deed a 2023 zenith of $133.62 per PH/s, exceeding the earlier grounds of $125.64 per PH/s connected May 8. Despite the precocious onchain fees, miners look a backlog of implicit 496,000 unconfirmed transactions and congestion of 430 blocks.

What bash you deliberation astir the record-breaking haul bitcoin miners gathered successful December 2023? Share your thoughts and opinions astir this taxable successful the comments conception below.