Bitcoin Price Surge Fails to Boost Miner Revenue

Despite Bitcoin's price hovering around $65,000, miner fee revenue has dropped to levels seen in 2019 when the cryptocurrency was worth about $5,000. This paradox means miners earn the same from transaction fees despite the 13-fold price increase, squeezing their profit margins and making older mining equipment unprofitable.

As a result, many miners are shifting focus to high-performance computing and AI contracts with tech giants to stabilize income. This trend raises concerns about the future security of the Bitcoin network if transaction fees do not rise to compensate for declining block rewards.