Analyst: Bitcoin Miner Fee Revenue Accounts for Less Than 1%, Older Mining Machines Still Face Significant Profit Pressure According to Deep Tide TechFlow, on October 12th, CryptoQuant analyst Axel Adler Jr. stated that over the past 30 days, transaction fees have accounted for only 0.64% of Bitcoin miners' revenue on average, a slight decrease from 0.65% a week earlier, and have remained below 1% since mid-August 2025. This means that current miners' revenue still relies primarily on block rewards, with transaction fees offering limited support for profitability. At an electricity price of $0.05/kWh, the electricity cost to mine 1 BTC using a Bitmain Antminer S19 is approximately $86,700, higher than the current BTC market price; while the corresponding electricity cost for the S21 is approximately $44,300, providing a significantly higher profit buffer. Axel Adler Jr. points out that the rise in BTC price has improved the operating environment for miners, but older equipment still faces significant cost pressures; if transaction fee revenue continues to rise above 1%, it means that on-chain activity is beginning to contribute more to miners' revenue. [https://www.techflowpost.com/zh-CN/newsletter/139639](https://www.techflowpost.com/zh-CN/newsletter/139639)
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分析师：比特币矿工手续费收入占比不足 1%，老旧矿机盈利压力仍较大 深潮 TechFlow 消息，10 月 12 日，CryptoQuant 分析师 Axel Adler Jr. 表示，过去 30 天比特币矿工收入中，手续费平均占比仅为 0.64%，较一周前的 0.65% 小幅下降，并自 2025 年 8 月中旬以来持续低于 1%。这意味着当前矿工收入仍主要依赖区块奖励，手续费对盈利能力的支撑有限。 在电价为 0.05 美元/千瓦时的情况下，使用 Bitmain Antminer S19 挖出 1 枚 BTC 的电力成本约为 8.67 万美元，高于当前 BTC 市价；而 S21 的对应电力成本约为 4.43 万美元，盈利缓冲明显更高。 Axel Adler Jr. 指出，BTC 价格上涨已改善矿工经营环境，但老旧设备仍面临较大成本压力；若手续费收入占比持续回升至 1% 以上，则意味着链上活动对矿工收入的贡献开始增强。 https://www.techflowpost.com/zh-CN/newsletter/139639