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$5 Billion Estimated Revenue By Bitcoin Miners in 2019

The Block revealed that in 2019, bitcoin miners around the world could generate a combined revenue of approximately $5 billion, with $4.89 billion coming from the block reward, where miners were awarded 12.5 BTC every time a new transaction block was found, while the remaining $146 million came from the transaction fee generated by the transfer of bitcoins between users.

The numbers may change this year due to Bitcoin’s halving to reduce the block reward from 12.5 BTC to 6.25 BTC in the coming May. The $5 billion of miners’ revenue in 2019 is still less than the 2018 downturn, which totaled $5.26 billion. But it has increased a lot compared to 2017, which was only $3.19 billion.

The report also mentioned that the miners’ estimated earnings are based on the miners that sell bitcoins immediately. This may be inaccurate, as some miners may have chosen to keep the bitcoins that are mined, before selling it later at much higher prices.

You may also want to read: What is Bitcoin Mining?

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SuperCryptoNews is a global leading blockchain and crypto news provider, covering daily news on the latest tech and trading developments in crypto. We bring you expansive crypto news coverage especially in Asia, with a focus on Singapore, Thailand and Southeast Asia.

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