diff --git a/src/chain/bitcoind_rpc.rs b/src/chain/bitcoind_rpc.rs
index 3ad85db0b..433928a89 100644
--- a/src/chain/bitcoind_rpc.rs
+++ b/src/chain/bitcoind_rpc.rs
@@ -30,6 +30,8 @@ use std::sync::Arc;
 pub struct BitcoindRpcClient {
 	rpc_client: Arc<RpcClient>,
 	latest_mempool_timestamp: AtomicU64,
+	mempool_entries_cache: tokio::sync::Mutex<HashMap<Txid, MempoolEntry>>,
+	mempool_txs_cache: tokio::sync::Mutex<HashMap<Txid, (Transaction, u64)>>,
 }
 
 impl BitcoindRpcClient {
@@ -42,7 +44,9 @@ impl BitcoindRpcClient {
 
 		let latest_mempool_timestamp = AtomicU64::new(0);
 
-		Self { rpc_client, latest_mempool_timestamp }
+		let mempool_entries_cache = tokio::sync::Mutex::new(HashMap::new());
+		let mempool_txs_cache = tokio::sync::Mutex::new(HashMap::new());
+		Self { rpc_client, latest_mempool_timestamp, mempool_entries_cache, mempool_txs_cache }
 	}
 
 	pub(crate) fn rpc_client(&self) -> Arc<RpcClient> {
@@ -160,16 +164,25 @@ impl BitcoindRpcClient {
 		}
 	}
 
-	pub(crate) async fn get_mempool_entries(&self) -> std::io::Result<Vec<MempoolEntry>> {
+	pub(crate) async fn update_mempool_entries_cache(&self) -> std::io::Result<()> {
 		let mempool_txids = self.get_raw_mempool().await?;
-		let mut mempool_entries = Vec::with_capacity(mempool_txids.len());
+
+		let mut mempool_entries_cache = self.mempool_entries_cache.lock().await;
+		mempool_entries_cache.retain(|txid, _| mempool_txids.contains(txid));
+
 		for txid in mempool_txids {
-			// Push any entries that haven't been dropped since `getrawmempool`
+			if mempool_entries_cache.contains_key(&txid) {
+				continue;
+			}
+
 			if let Some(entry) = self.get_mempool_entry(txid).await? {
-				mempool_entries.push(entry);
+				mempool_entries_cache.insert(txid, entry.clone());
 			}
 		}
-		Ok(mempool_entries)
+
+		mempool_entries_cache.shrink_to_fit();
+
+		Ok(())
 	}
 
 	/// Get mempool transactions, alongside their first-seen unix timestamps.
@@ -183,10 +196,14 @@ impl BitcoindRpcClient {
 		let prev_mempool_time = self.latest_mempool_timestamp.load(Ordering::Relaxed);
 		let mut latest_time = prev_mempool_time;
 
-		let mempool_entries = self.get_mempool_entries().await?;
-		let mut txs_to_emit = Vec::new();
+		self.update_mempool_entries_cache().await?;
+
+		let mempool_entries_cache = self.mempool_entries_cache.lock().await;
+		let mut mempool_txs_cache = self.mempool_txs_cache.lock().await;
+		mempool_txs_cache.retain(|txid, _| mempool_entries_cache.contains_key(txid));
 
-		for entry in mempool_entries {
+		let mut txs_to_emit = Vec::with_capacity(mempool_entries_cache.len());
+		for (txid, entry) in mempool_entries_cache.iter() {
 			if entry.time > latest_time {
 				latest_time = entry.time;
 			}
@@ -202,8 +219,14 @@ impl BitcoindRpcClient {
 				continue;
 			}
 
+			if let Some((cached_tx, cached_time)) = mempool_txs_cache.get(txid) {
+				txs_to_emit.push((cached_tx.clone(), *cached_time));
+				continue;
+			}
+
 			match self.get_raw_transaction(&entry.txid).await {
 				Ok(Some(tx)) => {
+					mempool_txs_cache.insert(entry.txid, (tx.clone(), entry.time));
 					txs_to_emit.push((tx, entry.time));
 				},
 				Ok(None) => {