Bitcoin finally broke above its former all-time high price this past week, breaching $69,000 before mildly retreating.  The run-up in price has led transaction volume to skyrocket on the network, and miners are cashing in on the increased activity. 

According to data from The Block, the seven-day moving average of transaction volume on the Bitcoin network has reached its highest level since September 2022, 18 months ago. 

That increased volume has led to a corresponding increase in Bitcoin miner revenue, as the seven-day moving average of miner revenue, currently $65.4 million, is just shy of its all-time high of $67.2 million reached in May 2021. 

While the run-up in price has been attributed to the success of the spot Bitcoin ETFs in the United States, another …