I have 5 hosted ASIC miners mining bitcoin. For about 2 years, these miners have generated about .001 bitcoin a day and everyday I have that amount sent to my ledger hardware wallet. So there are hundreds of very small transactions.
I recently learned that the ledger is not well suited as a mining wallet (for other reasons). So I tried to consolidate these coins in another wallet and the estimated transaction fee was $2,000 at 265/sat per byte or $4,438 at 376/sat per byte!!!!!!!
I’m assuming this is because of the amount of space required for so many small the transactions. Am I screwed into having to eat this cost? Any suggestions?
