Fee for the BTC block exceeds the miners’ reward for the first time in five years
On May 7, it reached 6,7 BTC with a reward of 6,25 coins
08.05.2023 - 11:00
555
3 min
0
What’s new? On May 7, the fee for block 788 695 on the Bitcoin network exceeded the established reward for miners due to the high demand for transaction processing. It reached 6,7 BTC (~$186 950) with a reward of 6,25 coins (~$174 600), according to Joe Burnett, Head Analyst at mining company Blockware Solutions. The last time a similar situation occurred was on December 22, 2017, for the same reason.
BREAKING: #Bitcoin block 788695 contained transaction fees greater than the block subsidy.6.7 BTC transaction fees + 6.25 BTC subsidyThis is a the first time in history this has ever occurred due to competitively high block space demand. pic.twitter.com/J7IcwzIVKE — Joe Burnett (🔑)³ (@IIICapital) May 7, 2023
What is going on with BTC? On May 7, the Bitcoin network experienced a “fork with a length of 2” at block 788 686. In a chain of 13 transactions, 10 BTC have been double spent. BitMEX exchange researchers noted that this was due to an increase in the number of stale blocks.
Облачный майнинг в 2023 году жив? Сколько можно на нем заработать
Рассказываем о том, стоит ли заниматься облачным майнингом в 2023 году, можно ли на этом заработать и какие риски несет этот способ заработка
Fees for transactions on the bitcoin blockchain surged to a two-year high earlier this month. On May 3, for example, the average fee was $7,241, jumping by 194% from April 30 ($2,461). This was mainly due to a surge in activity around BRC-20 standard tokens.
On March 10, a solo miner with 6,7 PH/s mined an entire block of bitcoin, which happens on average once every 10 months. In Q1 2023, total miner revenue was $1,98 billion, jumping by 28,7% from the previous reporting period.
Useful material?
Telegram 
Twitter Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Market
The company predicts that the rate of the first cryptocurrency will grow to $200 000 by the end of next year
Nov 11, 2024
Technologies
The company also unveiled its own blockchain adoption index
Nov 11, 2024
Cryptocurrency rates
-
Bitcoin
$89 729
BTC
-1.39%
-
Ethereum
$3 086.35
ETH
-3.02%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Dogecoin
$0.368021
DOGE
-10.63%
-
Ripple
$0.888616
XRP
+22.66%
-
Cardano
$0.657825
ADA
+16.16%
-
Bitcoin Cash
$432.02
BCH
-0.03%
-
Polkadot
$5.01
DOT
+0.35%
-
Litecoin
$85.67
LTC
+5.93%
-
Stellar XLM
$0.142992
XLM
+14.41%