Fees charts/Subsidy vs Fees

Subsidy vs Fees

The two parts of what a miner collects, averaged per block over each day: the subsidy, which halves on a fixed schedule, and fees, which do not

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About this metric

Definition

The two halves of what a miner collects for a block. The subsidy is new bitcoin the protocol creates, currently 3.125 BTC and halving every 210,000 blocks. The fees are what senders paid for space. Only the first is on a schedule.

How it is measured

The block subsidy (new BTC created) halves every 210,000 blocks (~4 years). After the 2024 halving, the subsidy is 3.125 BTC per block. The subsidy schedule is fixed by the protocol; the fee side is not. Fees are a larger share of revenue when they hold up as the subsidy falls, and a smaller one when they fall faster, so the balance between the two is an outcome to watch rather than a guarantee.

Measured from my own Bitcoin node. Methodology

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