This is a section from The Block’s 2026 Digital Assets Outlook report.
Bitcoin miner revenue rose to ~$17.2B on higher bitcoin prices post-halving, but transaction fees as share of revenue collapsed from ~7% to ~1% as the 2024 onchain activity boom faded, increasing miners’ reliance on BTC price appreciation.
Hashrate hit a record 1 zetahash.
Public Bitcoin miners’ stocks outperformed bitcoin by pivoting toward AI infrastructure, but this trend risks diverting resources from mining and could weaken network security without renewed onchain demand.

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This is a section from The Block’s 2026 Digital Assets Outlook report.
Bitcoin miner revenue rose to ~$17.2B on higher bitcoin prices post-halving, but transaction fees as share of revenue collapsed from ~7% to ~1% as the 2024 onchain activity boom faded, increasing miners’ reliance on BTC price appreciation.
Hashrate hit a record 1 zetahash.
Public Bitcoin miners’ stocks outperformed bitcoin by pivoting toward AI infrastructure, but this trend risks diverting resources from mining and could weaken network security without renewed onchain demand.

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