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Mining

by Jamie Redman

5 hours ago



BITCOIN BLOCK 857,911 DELIVERS $1.12M TO ANTPOOL AS MINERS ENJOY FEE WINDFALL




On Thursday, Bitcoin network fees took a significant leap, crossing the $100
mark shortly after 8:45 a.m. EDT. However, this spike was short-lived as fees
quickly dropped, settling at just $0.34 per transaction by 7 p.m. EDT. Data
collected from the day’s blocks revealed that a few fortunate bitcoin miners
managed to snag some blocks with substantial fees attached. For instance, Block
857,911 brought Antpool a hefty reward of 15.55 BTC in fees, in addition to the
standard 3.125 BTC block subsidy.


BITCOIN MINERS EARN BIG AS NETWORK FACES SHORT-LIVED SPIKE

Bitcoin fees climbed on Aug. 22, hitting levels not seen since June 7, 2024,
when the average BTC fee reached $83. On Thursday, onchain fees quietly
escalated, soaring above $105 per transaction or more than 1,250 satoshis per
virtual byte (sat/vB). By 7 p.m., fees had dropped significantly, and at block
height 857,986, F2pool earned a modest 0.03522003 BTC in onchain fees, amounting
to $2,128.77 at the current BTC exchange rate.

Similarly, blocks 857,987 and 857,988, discovered by Foundry, yielded 0.05425859
BTC and 0.03077392 BTC, respectively. On the other hand, when fees climbed to
$105 per transaction, BTC miners enjoyed a hefty windfall from the increased
revenue. Antpool and Foundry, the two largest BTC mining pools by hashrate,
captured the highest fees in consecutive blocks—857,911 and 857,912. Block
857,911 delivered 18.67 BTC, combining the 3.125 BTC subsidy and 15.55 BTC in
fees, totaling $1.12 million.

Foundry’s block 857,912 reaped 12.158 BTC in fees, resulting in a total payout
of 15.283 BTC, or $923,733. Block 857,910 wasn’t too shabby either, earning
Antpool 9.51 BTC in fees, while block 857,913 brought in 8.08 BTC in fees for
Antpool. Blocks 857,914 through 857,918 each saw fees exceed 1.33 BTC. Aside
from Antpool and Foundry, other fortunate pools that snagged some of these fees
included Viabtc, F2pool, and MARA Pool. Fees surpassing the 1 BTC mark are 28.2
times higher than those logged at 7 p.m. on Thursday.



Shortly after block 857,918, Luxor pocketed 0.98 BTC, and Binance Pool secured
1.096 BTC in onchain fees after discovering block 857,923. Data indicates that
from Aug. 21 at 10 p.m. EDT to Aug. 22 at 4 p.m. EDT, the daily hashprice
increased from $44 to $53 per petahash per second (PH/s). This slight bump in
revenue offers some relief to miners struggling in a challenging environment.
However, the uptick was brief, and fees have since returned to their previous
levels before today’s onchain fee spike.

What are your thoughts on the hefty fees collected in Thursday’s blocks? Feel
free to share your opinions in the comments section below.

--------------------------------------------------------------------------------

Bitcoin.com News is seeking a News Writer to produce daily content on
cryptocurrency, blockchain, and the digital currency ecosystem. If you are
interested in becoming a key member of our innovative global team, apply here.

TAGS IN THIS STORY

Antpool, Bitcoin, block rewards, Blockchain, BTC, BTC miners, Cryptocurrency,
Foundry, mining fees, Mining Pools, Transaction Fees




JAMIE REDMAN

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech
journalist living in Florida. Redman has been an active member of the
cryptocurrency community since 2011. He has a passion for Bitcoin, open-source
code, and decentralized applications. Since September 2015, Redman has written
more than 8,700 articles for Bitcoin.com News about the disruptive protocols
emerging today.



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