Decline in Bitcoin Hashrate Causes Miners to Earn $16.7 Ml in 24 Hours
The April 15th power outage in North China had some far-reaching effects
Decline In Bitcoin Hashrate Causes Miners To Earn $16.7 million In 24 Hours
“As a result of the decline in hash rate, backlog in transaction processing quickly surged, causing a mounting transaction fee. With the high mining fee, Bitcoin miners have earned nearly $16.7 million in just 24 hours.
Wu Blockchain noted in a tweet earlier today:
‘Bitcoin miners’ fees have increased significantly. The fees paid to Bitcoin miners in a single day amounts to $16.76303mln. The core reason is that the power outage and inspection in Northwest China has reduced the 20% hashrate, resulting in a backlog of transactions.’
It appears that as a result of the backlog, some users increased their miner’s fee to speed up their transactions.”