September 25, 2022

Estimated income of bitcoin miners last year was about $ 5 billion

Bitcoin miners received approximately $ 5 billion of estimated total revenue in 2019. It's less than a year earlier, reports The Block.

The figure includes $ 4.89 billion in the form of remuneration for the extracted blocks - 12.5 BTC for each. The rest (about $ 146 million) was provided by commission fees.

In 2018, the estimated income of miners amounted to $ 5.23 billion, and in 2017 - $ 3.19 billion.

Estimated income of bitcoin miners last year was about $ 5 billion

Analysts of the publication calculate this indicator,based on the fact that the miners immediately sell the received bitcoins. However, this is not entirely true, as some retain part of the extracted BTC or go into fiat later.

This year, presumably in May, the reward for the mined block will be halved - to 6.25 BTC. If the price of bitcoin does not increase to a similar extent, then the income of miners will be significantly reduced.

Recall, experts at Fundstrat Global Advisors are confident that halving (halving the block reward) has not yet been taken into account in the price of bitcoin, and it will grow by 100% this year.