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Bitcoin Miners Earn More from Transaction Fees Than Block Rewards for First Time Since 2017

Bitcoin miners are currently earning more from processing transactions on the blockchain than from creating new BTC, which is a positive development for the industry. The mining reward for creating new BTC is set to decrease again next year, potentially threatening the profitability of mining in the long term. However, the recent increase in profits from processing transactions could offset this. The emergence of non-fungible tokens (NFTs) on Bitcoin's blockchain has contributed to this trend, surprising many in the industry. The average transaction fee on Bitcoin has also increased significantly in May.

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