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.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

US Household Inflation Expectations Increase Ahead of Federal Reserve Meeting

In October 2023, American households raised their inflation expectations to 4.7% for the next year and 3.5% for the long run, according to a survey by the University of Michigan.

user avatarFilippo Romano

XRP Ledger Maintenance Amendment Regains Validator Majority

The XRP Ledger's fixCleanup340 amendment has regained majority support from validators, moving its activation window to November 4.

user avatarEmily Carter

W Group Invests in SwapGlobal for Institutional Pre-IPO Derivatives

W Group has announced its investment in SwapGlobal, which is preparing to offer institutional pre-IPO derivatives.

user avatarTomas Novak

Aave Labs Clarifies V38 Security Upgrade Details

Aave Labs has clarified its proposed V38 security upgrade, focusing on the exclusion of flashloan entry points from the new reentrancy guard, ensuring functionality during liquidations.

user avatarKaterina Papadopoulou

Aave Launches Externally Curated V4 Markets on Ethereum

Aave has launched its first externally curated V4 markets on Ethereum, managed by Sentora, which oversees active borrowing markets for RLUSD, PYUSD, and OUSD.

user avatarMaya Lundqvist

New Features Introduced in Stellar's Bell Upgrade

The Bell upgrade introduces new features including support for contract addresses and millisecond ledger timestamps, enhancing the Stellar network's capabilities.

user avatarLeo van der Veen

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.