Bitcoin’s high transaction fees, due to Ordinals, led to some miners enjoying revenues reminiscent of the bull market, but the trend might not last long. egreechee reports
However, the unexpected revenue bump may not last long as users are already looking elsewhere for their transactions due to high fees.
For example, use of the Lightning Network, a layer 2 solution for transaction processing, as well as stablecoins This unexpected change is resulting in pools needing to hold more bitcoin reserves, according to Foundry’s Chong. “For FPPS [full pay per share] pools, this means they need to hold more BTC reserve as the pool luck component is exacerbated by the high fees, meaning if a pool is unlucky during this period, it will incur a larger loss paying miners the fees that it did not collect,” he said.
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