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BTC - Block Coinbase Value / Miner Revenue (Sat)
Description
Bitcoin Coinbase Transaction Value (Miner Revenue) shows the BTC paid to miners, including both the minted BTC and fee components. After each Bitcoin halving, the minted block reward shrinks, but fees do not.
Bitcoin's USD Market Price is included for reference.
Pseudocode
for each block in blockchain:
(x,y) := (block.time, block.cbtx_val_btc)
for each hour in blockchain:
hr_cbtx_val_btc := avg(blockchain[hr_start:hr_end].cbtx_val_btc)
(x,y) := (hour, hr_cbtx_val_btc)
for each day in blockchain:
day_cbtx_val_btc := avg(blockchain[day_start:day_end].cbtx_val_btc)
(x,y) := (day, day_cbtx_val_btc)
Technical Info
Miner revenue is important for the health of the network, and yet competition within the mining industry has always been fierce. It has been an efficiency war for hashrate and power. If miners don't make enough revenue during the bear markets to cover running costs they are often simply forced out of business on the spot.
In the distant future mining will be exhausted, and only fees will incentivize miners.
- Hourly and daily aggregations are derived from block data using average for this metric.
- Hourly data contains occasional gaps; no blocks were generated during these times.
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