Analysis: Bitcoin miners 'transaction fee income accounts for less than 1%, and old miners are facing profit pressure

On October 12, CryptoQuant analyst Axel Adler Jr. pointed out that the average share of Bitcoin transaction fee income in the past 30 days was only 0.64% of miners 'total income, a slight decline from 0.65% in the previous week. This indicator will continue to be below 1% from mid-August 2025. At present, miners 'income is still mainly based on newly issued bitcoins, and transaction fees have a limited contribution to overall profits. Therefore, their operating conditions are highly dependent on Bitcoin price fluctuations and mining machine operating efficiency. Although the recent rebound in bitcoin prices from approximately US$59,000 to US$84,000 has improved the income environment for miners, mining machines in an aging state are still facing significant profit pressure under current electricity prices. If the price of bitcoin continues to rise, the electricity bill losses of old miners are expected to ease, and the profit margin of high-efficiency miners may expand; otherwise, falling prices may have an impact on miners 'income. It should be noted that a situation where fee income accounts for less than 1% does not necessarily mean that miners are reducing production or selling reserves on a large scale. When the proportion of handling fees rises to more than 1%, it may mean that transaction fees will increase their supporting effect on miners 'income. It should be specially noted that the above analysis only considers electricity expenses and does not include additional costs such as mining machine purchase, cooling system construction and equipment maintenance.