That sounds about right to me. For any mining operation (here and in other chains), there’s going to be “goldilocks zone” where the expected reward is going to exceed the mining cost. Commit too little resources, or too many, and it operates at a loss.
For example, miner SPP1DJ1JE2V8HYHTRHPWD7603XHJ3F7421KBC4TE produced 36 canonical Stacks blocks on the last 144 sortitions, meaning it contributed 29.26% of the total mining power of the network (it is currently today’s strongest miner). It paid 1111110 sats per Stacks block, or about $561, meaning its daily burn is about $80,800. Keep in mind that the initial mining bonus is active, so its coinbase rewards are actually 2446.4 STX, or about $2,565. So, this miner is making just over $92,300 in STX, for a daily profit of about $11,500.
Miners adjust how much they burn over time, based on other miners’ burn rates. For example, this same miner just reduced its burn rate to 606000 in the last block it won.
You can explore this information with the Stacks dump tool (data is online here), or with my script here.