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Bitcoin miners earned $ 5 billion in revenue in 2019.

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Around $ 5 billion was the amount raised by Bitcoin miners worldwide in 2019, according to the »2020 Research Outlook» report prepared by Larry Cermak, an analyst at The Block and published on January 15.

Of that amount, $ 4.89 billion was in the form of block rewards, which is the amount paid for extracting a Bitcoin block, which is currently 12.5 BTC per block. The other part, around US $ 146 million, was generated through transaction fees.

The report explains that this amount of revenue is calculated taking into account the Bitcoins that miners sell immediately. This means that it is an estimate that may not be as accurate, as some companies retain a portion of the BTC extracted for later sale.

Compared to 2018, this $ 5 billion figure represents a slight decrease in revenue. That is because that year the mining companies had revenues of US $ 5.26 billion. In 2017, this figure was only US $ 3.19 billion. The following graphic illustrates this trajectory:

Bitcoin miners earned $ 5 billion in revenue in 2019

Next Bitcoin Halving

It is worth remembering that the next Bitcoin reduction in half, scheduled for May 14, 2020, will reduce the mining reward value per block by half, and the subsidy will be 6.25 BTC per block. The next half is highly anticipated by the community, which expects Bitcoin inflation to decrease (the amount of Bitcoins generated per day).

However, with this halving, if the price of BTC does not increase, the revenues of the miners will be significantly reduced.



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