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Bitcoin Miners Already Made Nearly $600K From Ordinals’ NFT Transactions

Bitcoin (BTC) miners have earned nearly $600,000 in two months from a new controversial NFT protocol called Ordinals that has triggered a surge in user activity.

Ordinals allow users to inscribe data in the form of images and other media types in newly mined blocks on the Bitcoin blockchain that's otherwise largely used for peer-to-peer monetary transactions. 

Since the launch of Ordinals in mid-December, however, users have inscribed nearly 74,000 NFTs into the Bitcoin blockchain, earning miners a cumulative $574,000 in BTC transaction fees to date, data from Dune Analytics shows.

(By YASHU GOLA)

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