<ul data-eligibleForWebStory="true"><li>Bitcoin miner fees have hit a 13-year low in BTC terms.</li><li>The decline is attributed to low on-chain activity and increased empty block production.</li><li>Concerns have been raised about the long-term sustainability of the network's incentive model.</li><li>BTC-denominated fee income has sharply dropped despite the asset's high USD price.</li><li>Fewer transactions competing for block space has led to lower fees.</li><li>Miners are relying more on block subsidies as users pay fewer premiums for block inclusion.</li><li>Future halvings will further reduce the BTC block reward, adding to miner revenue concerns.</li><li>There are questions about whether upgrades or Layer 2 solutions can boost fee markets.</li><li>Worries exist about miner centralization and decreased infrastructure investment amid low revenue periods.</li><li>The industry awaits potential catalysts like ETF inflows and institutional adoption to improve miner fee earnings.</li><li>The network is currently experiencing the lowest miner fee earnings in over 10 years.</li></ul>

Bitcoin Miner Fees Hit 13-Year Low in BTC Terms

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