• 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

2 years 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.

chest

Other news

Kraken to Introduce CFTC-Regulated Perpetual Futures for US Traders.

chest

Kraken is set to introduce CFTC-regulated perpetual futures for eligible US professional traders through its acquisition of Bitnomial.

user avatarMiguel Rodriguez

Kraken Expands Crypto Trading with Pre-IPO Futures for AI Companies

chest

Kraken has launched new perpetual futures contracts for private AI companies OpenAI and Anthropic, allowing traders to gain synthetic exposure before they go public.

user avatarLuis Flores

Ethereum Faces Potential Third Consecutive Negative Quarter

chest

Ethereum is on track for a third consecutive negative quarter, raising concerns among traders despite strong staking signals.

user avatarArif Mukhtar

Glassnode Tracks Seller Exhaustion Constant for Market Insights

chest

Glassnode tracks the Seller Exhaustion Constant to analyze market trends and provide insights into seller behavior and market dynamics.

user avatarMaria Gutierrez

Gate Expands USDT Utility with Access to Hong Kong Stocks

chest

Gate has launched a new feature allowing users to access Hong Kong-listed stocks through USDT-powered accounts.

user avatarDavid Robinson

Uniswap's UNI Token Set for Massive Growth, Predicts Standard Chartered

chest

Standard Chartered's Geoff Kendrick predicts significant growth for Uniswap's native token, UNI, forecasting a price target of $100 by 2030 as Wall Street transitions to on-chain investments.

user avatarAndrew Smith

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.