The 800,000th block
contains 3721 transactions for 1.64 megabytes at a rate of $29,742 per coin. Glassnode’s lead analyst James Check, known on Twitter as Checkmate, summarized Bitcoin’s achievements to this point. Before the 800,000 block, a total of 19.4 million BTC was mined, with miners receiving 268,700 BTC in commissions. Over all, miners generated $52.5 billion in revenue, with the majority coming from block rewards (94.5%) and the rest from commissions (5.5%). It turns out that the average reward for miners per block is about $65700, the analyst wrote.
Of the 19.4 million BTC roughly 7.5% of the 19.4 million BTC mined have not been tapped since July 2010. There is speculation that these coins may be permanently lost to early miners. 74.6% of bitcoins are held by long-term holders outside of trading platforms. Only 2.68 million BTC are held by short-term investors, while 2.25 million BTC are listed on exchanges.
More than 867 million transactions have been confirmed on the Bitcoin network there are 1,084 transactions per block on average. Over the course of 14.5 years, these 867 million transactions transferred $109 trillion and created 2.439 billion unspent exits (UTXO). On average, $126,400 worth of funds are transferred per transaction. A Glassnode analyst noted: all of the above neatly packs into a storage capacity of no more than 497GB.
In May, a lone miner mined block number 790 958 on the Bitcoin network and was rewarded with 6.25 BTC. According to The Block, bitcoin miners generated $916.6 million in revenue that month.