• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

BTC Miners Earned Just 3.6% of BTC Market Cap

user avatar

by Giorgi Kostiuk

9 months ago


Bitcoin miners have earned $71.49 billion since the network's inception. This figure represents only 3.6% of BTC's record market capitalization of $2 trillion.

Bitcoin Miners' Earnings

The miners' revenue consists of two main sources: block subsidies and transaction fees. Of the total $71.49 billion, $67.31 billion comes from block subsidies—creation of new bitcoins, and $4.18 billion from transaction fees paid by users. This distribution shows that transaction fees represent a small fraction of the total revenues of miners.

Importance of BTC Network Security

Despite significant gains, miners' revenue represents only a tiny part of BTC's total market capitalization. This situation highlights the "tremendous" security value provided by miners to the Bitcoin network. The BTC network has processed a cumulative volume of $131.25 trillion in transactions, underscoring the importance of security provided by miners.

Prosperous Year for BTC Miners in 2024

Despite these alarming figures presented in the analysis, BTC miners continued to thrive in 2024, facing the challenges of the market. Publicly traded Bitcoin mining companies, such as Hut 8 and MARA Holdings, saw their stocks rise and continued to accumulate BTC. Hut 8, for example, announced a share buyback program to create a strategic reserve of bitcoin, while MARA Holdings acquired bitcoins valued at $600 million in early December.

In summary, although BTC miners have earned billions of dollars, their revenue represents a small fraction of the total market capitalization of bitcoin. This situation underscores the importance of the security provided by miners and the robustness of the Bitcoin network.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

BlackRock: Price Prediction for XRP Based on Analysis

chest

Robert Mitchnick from BlackRock shares insights on XRP price based on previous analysis. Discover possible scenarios for the asset.

user avatarGiorgi Kostiuk

SEC and Gemini: Significant Resolution in Crypto Lending Dispute

chest

The SEC and Gemini have reached a settlement regarding the Earn platform, marking a significant step in crypto regulation.

user avatarGiorgi Kostiuk

Top Cryptos to Invest: BullZilla, Hyperliquid, and Toncoin

chest

Overview of the top cryptocurrencies to invest in this week: BullZilla, Hyperliquid, and Toncoin.

user avatarGiorgi Kostiuk

XRP and Remittix: A Market Analysis

chest

Ripple (XRP) breaches $3 again, while Remittix garners attention. The article explores their prospects and developments.

user avatarGiorgi Kostiuk

Crypto Hacker Reoffends: $35 Million at Risk

chest

A young hacker has executed a large-scale theft of $35 million, employing SIM swap and social engineering techniques.

user avatarGiorgi Kostiuk

Strategic Bitcoin Reserve Act: Possibilities and Uncertainties

chest

The idea of creating a Bitcoin strategic reserve in the U.S. is gaining interest. Legislation proposes the government to acquire up to 1 million Bitcoin.

user avatarGiorgi Kostiuk

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.