What does this mean for Bitcoin miners?

[madmax]

Miners currently earn most of their revenue from block rewards, with transaction fees as a smaller portion. As the block reward dwindles:

Miners must rely more on transaction fees

Energy efficiency and hardware upgrades become critical

Smaller operations may be absorbed by larger, cheaper miners

This transition is gradual, allowing time for adaptation, but miner incentives post-subsidy will be increasingly fee-dependent.

[cryptohog]

Layer 2 adoption + rising fees = miner incentives aligned with network security long-term