Bitcoin Miners’ Revenue Hit $71 Billion in Epic Milestone: Details
Bitcoin miners have reached a monumental milestone, earning a cumulative $71.49 billion, according to Glassnode.
On Dec. 5, after 5,256 trading days, the Bitcoin price crossed $100,000 for the first time, and the market capitalization briefly surpassed $2 trillion.
According to on-chain analytics platform Glassnode, Bitcoin miners have earned $71.49 billion since inception, demonstrating the network’s robust security and economic incentives.
As of December 5, #Bitcoin miners have earned a cumulative $71.49 billion for securing the network and processing transactions. This includes $67.31 billion in block subsidies and $4.18 billion in transaction fees.
Review the chart: https://t.co/U9PqClQutV pic.twitter.com/b76G8Nu8M4
— glassnode (@glassnode) December 12, 2024
As of Dec. 5, when Bitcoin first hit $100,000, Bitcoin miners’ revenue for securing the network and processing transactions stood at $71.49 billion. This includes $67.31 billion in block subsidies and $4.18 billion in transaction fees. A total of 19,791,952 BTC have been mined, representing 94.2% of the total 21 million supply cap.
Since the Genesis Block, 873,304 blocks have been mined, with an average block time of 11.8 minutes for Bitcoin to reach the historic price of $100,000 on Dec. 5, 2024. After 418 difficulty adjustments, excluding periods without adjustment, network difficulty has risen to 446,331,432,498,125,300,000,000, as Bitcoin’s security and computational power continue to grow.
By the time Bitcoin reached $100,000, the network hashrate had increased from 128,185 hashes/sec to more than 804,407,834,059,443,100,000 hashes/sec. Miners have collectively computed roughly 5.01 x 1028 hashes to date. Interestingly, 37% of the entire computed hash occurred in 2024.
Bitcoin has also seen exceptional transaction growth. To date, the network has successfully processed 1.12 billion transactions (unfiltered). Since the Genesis Block, Bitcoin has processed $131 trillion in transfer volume.
Bitcoin price journey
Bitcoin topped $100,000 for the first time on Dec. 5, taking three days to achieve a daily candle close above $100,000.
Bitcoin’s price has been actively traded for 5,256 days and has ranged from fractions of a cent to $100,000. This journey has seen 72 positive monthly candles (including December 2024), with an average increase of 37.4%, and 71 negative monthly candles, with an average drop of -14.2%.
According to Glassnode, during this period of unprecedented market boom, investors made a total of $1.27 trillion in profit and -$592 billion in losses on-chain.
At the time of writing, BTC was up nearly 2% in the last 24 hours to $100,290.
Source: cryptonews.net
