November 14, 2019, 10:55AM EST
• 3 min read

Transaction fees are less than 3% of the total revenue in the bitcoin mining industry

Quick Take

  • In 2019, miners have so far generated $4.30 billion — $4.15 billion from subsidy and $146 million from fees
  • Gold production appears to be at least a 30 times larger than the Bitcoin mining industry
  • Despite reaching more than 25% in December 2017, the transaction fees were, on average, only about 2.9% of the total revenue in the last 12 months

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