[floe]

Driving up gas fees increases the number of miners who find it profitable to operate their rigs, no?

[Tenoke]

Yes but less than before (since eip1559 part of the fee is burned instead) so the relationship is sublinear.

[floe]

I see, that's interesting!

I guess there's another causal chain, which is 'buying ETH to pay gas fees -> price of ETH goes up -> value of block reward to miners goes up -> more miners find it profitable to operate rigs'. I wonder how strong that effect is.