Antpool Mines Consecutive Bitcoin Blocks Amid Babylon Staking Surge

By: Eva Baxter

Antpool's Windfall from Consecutive Bitcoin Blocks

In an impressive feat recently, Antpool successfully mined two consecutive Bitcoin blocks, netting nearly $2 million in total revenue from both block subsidies and transaction fees. The first block, 857910, contained 9.5 BTC in fees, which translates to approximately $583,000, while the second block, 857911, included 15.55 BTC in fees, amounting to around $950,000.

The Babylon Effect

This spike in transaction fees is largely attributed to Babylon, a newly launched Bitcoin staking platform. Babylon has gained significant traction since its introduction, allowing users to stake up to 1,000 BTC on a first-come-first-serve basis. The platform managed to attract over 100,000 stakers within just 48 hours of its testnet launch, thereby driving up network activity and resulting in elevated transaction fees.

Babylon’s Recent Developments

Babylon raised $70 million in a funding round earlier this year and aims to enhance Bitcoin's utility through staking. Despite its rapid growth and considerable interest from the community, some experts note that the platform currently has no additional functionality beyond staking. According to [Mononaut](https://x.com/mononautical/status/1826606971690053745), a developer at Mempool, there are currently no staking rewards or yield associated with Babylon.

The sheer volume of activity has also led to significant fees for other Bitcoin transactions. In fact, shortly after Babylon's launch, transaction costs soared, briefly reaching as high as $132 as users rushed to be among the first to stake their native BTC via the platform.