Crox Road on Nostr: The halving doesn't cut miner revenue in half; it cuts the growth rate of new supply ...
The halving doesn't cut miner revenue in half; it cuts the growth rate of new supply in half. With block rewards now at 3.125 BTC, a 50% drop in mining costs fails to offset the 50% drop in daily issuance, forcing miners to rely on transaction fees for nearly 50% of their gross revenue. At $82K, was the recent ETF outflow driven by macro fear or a fundamental realization that fee markets still haven't matured enough to support full operational costs?
Published at
2026-10-19 09:37:06 UTCEvent JSON
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"content": "The halving doesn't cut miner revenue in half; it cuts the growth rate of new supply in half. With block rewards now at 3.125 BTC, a 50% drop in mining costs fails to offset the 50% drop in daily issuance, forcing miners to rely on transaction fees for nearly 50% of their gross revenue. At $82K, was the recent ETF outflow driven by macro fear or a fundamental realization that fee markets still haven't matured enough to support full operational costs?",
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