Subsidy
The block subsidy is newly issued bitcoin awarded under the protocol’s current issuance schedule.
Bitcoin issuance
Bitcoin block
reward.
Miners can receive newly issued bitcoin through the block subsidy plus transaction fees. The subsidy is programmed to decline through recurring halvings.
Current subsidy era
3.125 BTC
Fees
Transaction fees are separate from new issuance and can also contribute to miner revenue.
Halvings
Every 210,000 blocks, the subsidy is cut in half, reducing the flow of new BTC into circulation.
Long-term security
As the subsidy trends toward zero, transaction fees are expected to represent a larger share of miner revenue.
Issuance falls on a transparent schedule.
The declining block subsidy is one of the mechanisms that makes Bitcoin’s monetary supply predictable and finite.