How do ETH miners make money?

We are aware that miners on Ethereum need to be incentivised to process transactions. The revenue that miners receive for their work can be broken down into three sources:

1. The reward of 2 ETH they are paid for mining a block (as well as a smaller reward for uncle block processes).
2. The fees received from users who bid for a spot on the block irrespective of their final position in the block. (For a user, this is the gas fee for your transactions on ETH)
3. The value (dependent on the nature of the transactions executed) miners extract by inserting (or not inserting) transactions at specific points in the block.

The first two sources of revenues for miners are commonly discussed and reiterated within the community of users on Ethereum who have high-level exposure to how contract protocols on Ethereum work. The last revenue source however, is less talked about compared to the previous “conventional” sources of revenue and is known as the miner-extractable value, or MEV.