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Bitcoin Miners’ Revenue Hits $71 Billion in Epic Milestone
In a remarkable milestone, bitcoin miners have earned a cumulative total of $71.49 billion, a testament to the growing adoption and utility of the world’s leading cryptocurrency. This milestone is all the more significant given that it coincides with Bitcoin’s price surpassing the $100,000 mark for the first time.
According to available data, these earnings can be attributed to block subsidies amounting to $67.31 billion and transaction fees worth $4.18 billion. The sheer scale of this revenue underscores the crucial role that bitcoin miners play in securing and validating transactions on the blockchain.
Notably, this monumental achievement has occurred at a time when Bitcoin’s market capitalization briefly exceeded $2 trillion, further emphasizing its status as a premier store of value and medium of exchange.
This milestone is also significant given that it highlights the remarkable progress made by the Bitcoin network since its inception. In fact, an astonishing 19,791,952 BTC have been mined to date, representing a staggering 94.2% of the total 21 million supply cap. Additionally, the average block time has remained remarkably consistent at 11.8 minutes, demonstrating the resilience and efficiency of the underlying technology.
Furthermore, it is worth noting that Bitcoin’s remarkable transaction growth has seen it process over 1.12 billion transactions, accompanied by a staggering transfer volume of $131 trillion since its Genesis Block. This growth is all the more impressive when considering the relatively early stages of this still-emerging market.
In conclusion, this extraordinary milestone marks yet another significant achievement for the Bitcoin community and serves as a testament to the unwavering commitment and dedication of miners worldwide in protecting and securing the network.
Source: U.Today
Source: u.today
