Weekend Wrap: Ordinals to boost BTC miners, Yuga NFT mint goes wrong and more

Grayscale says Bitcoin Ordinals could be a boon for miners after rewards halve and Yuga Labs stumbled its way through reimbursing those who lost out on NFTs due to high gas fees.

Bitcoin (BTC) Ordinals inscriptions could provide a much-needed revenue boost for Bitcoin (BTC) mining firms after April’s slated halving event takes place, says digital asset management firm Grayscale.

“Since the advent of Ordinals, there have been multiple times when miners have derived over 20% of their transaction fees from inscription fees themselves,” Grayscale researcher Michael Zhao said in a Feb. 9 report.

Miners have pocketed $200 million from approximately 59 million nonfungible token-like collectibles on Bitcoin since the Ordinals protocol launched in January 2023, Zhao noted.

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