---
title: "Bitcoin Mining Revenue Statistics 2026: Block Subsidy, Fees and Halving Impact"
date: 2026-11-08
author: "Barry Elad"
featured_image: "https://coinlaw.io/wp-content/uploads/2026/11/bitcoin-mining-revenue-statistics-1.jpg"
categories:
  - name: "Cryptocurrency"
    url: "/crypto.md"
tags:
  - name: "Statistics"
    url: "/tag/statistics.md"
---

# Bitcoin Mining Revenue Statistics 2026: Block Subsidy, Fees and Halving Impact

Bitcoin miners earned **$41.27 million** on October 28, 2026, according to Blockchain.com’s daily bitcoin mining revenue data. Blockchain.com counts the total value of coinbase block rewards and transaction fees paid to miners. The same series shows **$107.76 million** on April 20, 2024, and transaction fees alone paid miners **$81.05 million** that day.

Fees made up **75.22%** of revenue on April 20, 2024. That share fell to **0.51%** on October 28, 2026. The [most recent halving](https://coinlaw.io/glossary/bitcoin-halving/) occurred in April 2024, reducing the block reward from **6.25 bitcoin** to **3.125 bitcoin** per block. Figures below are quoted in US dollars or in bitcoin (BTC), as each source reports them, and today’s miner income rests almost entirely on the subsidy.

## Key Takeaways

- Daily miner revenue stood at **$41.27 million** on October 28, 2026, per Blockchain.com.
- Miners took in **$107.76 million** on April 20, 2024, the highest daily total among the dates this article reports.
- Fees supplied **75.22%** of revenue on April 20, 2024, and **0.51%** on October 28, 2026.
- The block reward fell from **6.25 bitcoin** to **3.125 bitcoin** per block in April 2024.
- Halving block 840,000 alone paid **37.63 BTC** in fees, while the whole network paid **2.39 BTC** in fees on October 28, 2026.
- Daily revenue fell **53.51%** from May 10, 2020 to May 12, 2020, across the May 2020 halving.
- MARA’s revenues grew **38%** to **$907.1 million** in 2025, per its fourth-quarter shareholder letter.

## Editor’s Choice

- Network transaction fees: **$210,131** on October 28, 2026.
- Network transaction fees on the halving day: **$81.05 million** on April 20, 2024.
- Daily fees in bitcoin terms: **1,495.95 BTC** on December 22, 2017.
- Daily miner revenue in April 2021: **$80.17 million** on April 15, 2021.
- Daily miner revenue in June 2026: **$23.21 million** on June 7, 2026.
- Next halving: anticipated to occur around **April 2028**.

## Bitcoin Miner Revenue Per Day

- Blockchain.com recorded **$41.27 million** in miner revenue on October 28, 2026.
- April 20, 2024 brought **$107.76 million**, up from **$71.04 million** on April 19, 2024.
- June 7, 2026 produced **$23.21 million**, the lowest day between May 25 and June 19, 2026 in the same series.
- The halving-day total was **2.61 times** the October 28, 2026 figure.
- Blockchain.com reports the series in USD with a daily period.

| Date | Miner revenue ($ millions) |
|---|---|
| April 15, 2021 | 80.17 |
| April 20, 2024 | 107.76 |
| June 7, 2026 | 23.21 |
| October 5, 2026 | 52.93 |
| October 28, 2026 | 41.27 |

*Source: Blockchain.com Charts, 2021 to 2026*

### How much do Bitcoin miners earn per day?

Bitcoin miners as a group earned **$41.27 million** on October 28, 2026, per Blockchain.com. Daily totals in October 2026 included **$34.63 million** on October 22 and **$52.93 million** on October 5. The figure covers the whole network, so any single operation earns a small slice of it.

### About This Data

Figures are compiled from 19 sources: 9 company filings with the SEC, 3 Blockchain.com charts, 4 mempool.space block records and 3 protocol documents. Filings date from February to August 2026, and the explorer data runs through October 28, 2026. Only primary filings, protocol code and explorer data qualified. Figures are reviewed on a rolling basis and updated when sources publish new data.

## Block Subsidy vs Transaction Fees Split

- A winning miner receives newly issued bitcoin (block subsidy) and transaction fees associated with the validated transactions, per MARA’s annual report.
- Fees rose to **$81.05 million** on April 20, 2024, from **$7.77 million** on April 19.
- Total miner revenue on April 20, 2024 was **$107.76 million**.
- That put the fee share of revenue at **75.22%** on April 20, 2024.
- Fees on October 28, 2026 came to **$210,131**, and the fee share that day was **0.51%**.
- Satoshi Nakamoto’s whitepaper states that “the incentive can transition entirely to transaction fees and be completely inflation free”.

 Total miner revenue vs Transaction fees (USD) · Source: Blockchain.com Charts, 2024 and 2026     COINLAW ANALYSIS Miner Revenue vs Fees on Four Days ($ millions) Total miner revenue vs Transaction fees (USD)   Blockchain.com · 2024    Total miner revenue  Transaction fees         120M 90M 60M 30M 0   71,040,000  7,770,000  107,760,000  81,050,000  48,170,000  16,790,000  41,270,000  210,000   April 19, 2024 April 20, 2024 April 22, 2024 October 28, 2026  Total miner revenue · 71,040,000 Transaction fees · 7,770,000 Total miner revenue · 107,760,000 Transaction fees · 81,050,000 Total miner revenue · 48,170,000 Transaction fees · 16,790,000 Total miner revenue · 41,270,000 Transaction fees · 210,000   SOURCE Blockchain.com Charts, 2024 and 2026      View the data| Date | Total miner revenue | Transaction fees |
|---|---|---|
| April 19, 2024 | $71.04 million | $7.77 million |
| April 20, 2024 | $107.76 million | $81.05 million |
| April 22, 2024 | $48.17 million | $16.79 million |
| October 28, 2026 | $41.27 million | $0.21 million |







> **Key finding:** Blockchain.com’s daily data shows **$81.05 million** in fees on April 20, 2024, or **75.22%** of revenue. Fees were **0.51%** of revenue on October 28, 2026. Miner income now moves with the subsidy and the bitcoin price, not with fee demand.

## Bitcoin Block Subsidy Schedule by Halving

- Bitcoin Core starts the subsidy at **50** coins and cuts it in half every **210,000** blocks, approximately every **4 years**.
- Block 210,000 lowered the subsidy to **25 BTC**, and block 420,000 lowered it to **12.5 BTC**.
- At each Bitcoin halving, the block subsidy portion of the miner reward is cut in half.
- The most recent halving occurred in April 2024, reducing the block reward from **6.25 bitcoin** to **3.125 bitcoin** per block.
- The next halving is anticipated to occur around **April 2028**, although the exact timing depends on the rate at which blocks are mined.
- The code forces the subsidy to zero once halvings reach **64**.

 BLOCK SUBSIDY (BTC) · Source: Bitcoin Core, MARA Holdings Form 10-K    BLOCK SUBSIDY (BTC) · COINLAW ANALYSIS Block Subsidy by Halving Era (BTC per block)    Bitcoin Core         Block 0 (launch)  50 Block 210,000  25 Block 420,000  12.5 Block 630,000  6.25 Block 840,000  3.125  0 10 20 30 40 50   SOURCE Bitcoin Core, MARA Holdings Form 10-K      View the data| Starting block | Block subsidy (BTC) |
|---|---|
| Block 0 (launch) | 50 |
| Block 210,000 | 25 |
| Block 420,000 | 12.5 |
| Block 630,000 | 6.25 |
| Block 840,000 | 3.125 |





[Halving events](https://coinlaw.io/bitcoin-all-time-high-statistics/) will continue until the aggregate supply of bitcoin reaches **21,000,000**, according to MARA’s 10-K. Each cut halves the subsidy in coin terms, while the dollar value depends on the bitcoin price on the day.

## Recent Developments

- **August 4, 2026:** Cipher Digital reported Q2 2026 revenue of **$25 million** and Adjusted EBITDA of negative **$30 million**.
- **August 6, 2026:** MARA reported Q2 2026 revenue of **$174.9 million**, a decrease of **27%** from **$238.5 million** in Q2 2025.
- **August 10, 2026:** Riot reported quarterly revenue of **$174.2 million**, a **14%** increase year over year, including **$23.2 million** in Data Center revenue.
- **August 27, 2026:** IREN reported Bitcoin Mining Revenue of **$66.7 million** for the quarter ended June 30, 2026, against **$111.2 million** for the quarter ended March 31, 2026.
- **October 28, 2026:** Network transaction fees totaled **2.39 BTC** for the day, per Blockchain.com.

## Halving Blocks and Dates

- Block **210,000** holds **457** transactions.
- Block **420,000** holds **1,257** transactions.
- Block **630,000** holds **3,134** transactions.
- Block **840,000** holds **3,050** transactions.
- MARA’s 10-K places the most recent halving in April 2024.

| Halving block | Date and time (UTC) | Transactions in block |
|---|---|---|
| 210,000 | November 28, 2012, 15:24 | 457 |
| 420,000 | July 9, 2016, 16:46 | 1,257 |
| 630,000 | May 11, 2020, 19:23 | 3,134 |
| 840,000 | April 20, 2024, 00:09 | 3,050 |

*Source: mempool.space*

Dates and times in the table are converted from each block’s Unix timestamp, which counts seconds in UTC.

## Miner Revenue Before and After Each Halving

- Revenue went from **$115,928** on November 27, 2012 to **$70,185** on November 29, 2012.
- That was a **39.46%** decline across the 2012 halving.
- Revenue fell **47.39%** from July 8, 2016 to July 10, 2016.
- Revenue fell **53.51%** from May 10 to May 12, 2020.
- Revenue was **$71.04 million** on April 19, 2024, and it fell **28.47%** by April 21, 2024.

 Day before vs Day after · Source: Blockchain.com Charts, 2016 to 2024     COINLAW ANALYSIS Miner Revenue Before and After Halvings ($ millions) Day before vs Day after   Blockchain.com · 2016 to 2024    Day before  Day after          80M 64M 48M 32M 16M 0   2,480,000  1,300,000  19,250,000  8,950,000  71,040,000  50,810,000   July 2016 May 2020 April 2024  Day before · 2,480,000 Day after · 1,300,000 Day before · 19,250,000 Day after · 8,950,000 Day before · 71,040,000 Day after · 50,810,000   SOURCE Blockchain.com Charts, 2016 to 2024      View the data| Halving | Day before | Day after |
|---|---|---|
| July 2016 | $2.48 million | $1.30 million |
| May 2020 | $19.25 million | $8.95 million |
| April 2024 | $71.04 million | $50.81 million |







> **Worth noting:** Blockchain.com values revenue in US dollars, so each daily figure blends the subsidy, fees and the bitcoin price. Revenue was **$8.95 million** on May 12, 2020, and **$7.11 million** on May 17, 2020. A price move in the days after a halving can widen or narrow the visible drop.

## Block 840,000 and the April 2024 Halving Day

- Block 840,000 held **3,050** transactions and was mined by the ViaBTC pool.
- Its total reward came to **40.75 BTC**, of which **37.63 BTC** was fees.
- The remaining **3.125 BTC** matched the new block subsidy.
- The Runes protocol activates on block 840,000, and runestones in earlier blocks are ignored, per the Ordinals documentation.
- That one block paid **15.75 times** the network’s fees for October 28, 2026.

| Measure | Value |
|---|---|
| Transactions in block 840,000 | 3,050 |
| Fees in block 840,000 (BTC) | 37.63 |
| Total reward for block 840,000 (BTC) | 40.75 |
| Network fees on April 20, 2024 (BTC) | 1,257.72 |
| Network fees on April 20, 2024 ($ millions) | 81.05 |

*Source: mempool.space, Blockchain.com Charts*

> **By the numbers:** Network fees reached **1,257.72 BTC** on April 20, 2024, per Blockchain.com. Block 840,000 contributed **37.63 BTC**, according to mempool.space. Daily revenue hit **$107.76 million**. The fee burst on the first day of the smaller subsidy briefly made up for the cut.

## Transaction Fee Spikes Paid to Miners

- Fees rose to **$17.77 million** on May 8, 2023, from **$1.40 million** on April 30, 2023.
- April 20, 2024 fees came to **$81.05 million**.
- Fees stayed at **$23.70 million** on December 17, 2023, a day after reaching **$23.75 million** on December 16.
- Fees came to **$22.37 million** on April 21, 2024.
- By May 3, 2024, daily fees were back at **$2.08 million**.

 TRANSACTION FEES · Source: Blockchain.com Charts, 2023 to 2024    TRANSACTION FEES · COINLAW ANALYSIS Daily Bitcoin Fee Spikes, 2023 to 2024 ($ millions)    Blockchain.com · 2023 to 2024         May 8, 2023  $17.77M December 16, 2023  $23.75M April 20, 2024  $81.05M April 23, 2024  $29.86M  0 20 40 60 80 100   SOURCE Blockchain.com Charts, 2023 to 2024      View the data| Date | Transaction fees ($ millions) |
|---|---|
| May 8, 2023 | 17.77 |
| December 16, 2023 | 23.75 |
| April 20, 2024 | 81.05 |
| April 23, 2024 | 29.86 |





December 16, 2023 brought **$23.75 million** in fees, and April 23, 2024 brought **$29.86 million**. Each burst faded within days, which is why fee income has not offset a halving for long.

## Transaction Fees in BTC: Daily Records and Lows

- Fees totaled **1,495.95 BTC** on December 22, 2017, the highest daily total in bitcoin terms among the dates this article reports.
- December 21, 2017 brought **1,128.76 BTC**.
- Fees came to **344.08 BTC** on April 21, 2024, and **438.55 BTC** on April 23, 2024.
- October 2026 daily fees dipped to **1.86 BTC** on October 25, and reached **3.30 BTC** on October 15.
- Fees on December 22, 2017 were **626.11 times** the October 28, 2026 figure.

 TRANSACTION FEES · Source: Blockchain.com Charts, 2017 to 2026    TRANSACTION FEES · COINLAW ANALYSIS Daily Bitcoin Network Fees on Five Dates (BTC)    Blockchain.com · 2017 to 2026           1.5K 1.2K 900 600 300 0   1,495.95 December 22, 2017  1,257.72 April 20, 2024  438.55 April 23, 2024  3.30 October 15, 2026  2.39 October 28, 2026    SOURCE Blockchain.com Charts, 2017 to 2026      View the data| Date | Transaction fees (BTC) |
|---|---|
| December 22, 2017 | 1,495.95 |
| April 20, 2024 | 1,257.72 |
| April 23, 2024 | 438.55 |
| October 15, 2026 | 3.30 |
| October 28, 2026 | 2.39 |





## Bitcoin Miner Revenue in October 2026

- Daily revenue dipped to **$34.63 million** on October 22, 2026, and rose to **$49.24 million** on October 20, 2026.
- October 3, 2026 brought **$37.33 million**, and October 17 brought **$37.65 million**.
- Daily fees fell to **$167,086** on October 24, 2026, against **$236,997** on October 22, 2026.
- Network revenue says nothing about margins: [Hashprice and break-even costs](/crypto-mining-profitability-statistics/) decide what an individual miner keeps.

 MINER REVENUE · October 19 to 28, 2026 · Miner revenue (USD) · Source: Blockchain.com Charts, October 2026    MINER REVENUE · COINLAW ANALYSIS Daily Miner Revenue ($ millions)  October 19 to 28, 2026 · Miner revenue (USD)   Blockchain.com · 2026           50M 40M 30M 20M 10M 0                Oct 19 Oct 20 Oct 21 Oct 22 Oct 23 Oct 24 Oct 25 Oct 26 Oct 27 Oct 28    SOURCE Blockchain.com Charts, October 2026      View the data| Date | Miner revenue |
|---|---|
| October 19, 2026 | $42.66 million |
| October 20, 2026 | $49.24 million |
| October 21, 2026 | $43.36 million |
| October 22, 2026 | $34.63 million |
| October 23, 2026 | $47.66 million |
| October 24, 2026 | $39.98 million |
| October 25, 2026 | $43.49 million |
| October 26, 2026 | $44.78 million |
| October 27, 2026 | $44.29 million |
| October 28, 2026 | $41.27 million |







## Listed Bitcoin Miner Revenue From Filings

- [MARA Holdings](/marathon-digital-holdings-statistics/) reported that revenues grew **38%** to **$907.1 million** from **$656.4 million** in 2024.
- For 2025, Riot’s results show a **$255.3 million** increase in Bitcoin Mining revenue, within total revenue of **$647.4 million**.
- In 2025, [Riot Platforms](/riot-platforms-statistics/) also produced **5,686** bitcoin, as compared to **4,828** in 2024.
- Cipher Digital reported revenue from bitcoin mining of **$151.3 million** in 2024 and **$126.8 million** in 2023.
- [Hut 8](/hut-8-mining-statistics/) reported a Compute segment of **$202.3 million** in 2025 revenue; that table does not break mining out as its own line.
- IREN’s Bitcoin Mining Revenue was **$484.6 million** in the year ended June 30, 2025.

 REVENUE · Source: MARA Holdings, Riot Platforms, IREN, Hut 8, Cipher Digital SEC filings, 2026    REVENUE · COINLAW ANALYSIS Listed Miner Revenue, Latest Year ($ millions)    MARA Holdings · 2026         MARA (total revenues, 2025)  $907.1M IREN (Bitcoin Mining Revenue, year ended June 30, 2026)  $578.2M Riot (Bitcoin Mining revenue, 2025)  $576.3M Hut 8 (total revenue, 2025)  $235.1M Cipher (revenue from bitcoin mining, 2025)  $223.9M  0 200 400 600 800 1K   SOURCE MARA Holdings, Riot Platforms, IREN, Hut 8, Cipher Digital SEC filings, 2026      View the data| Company (revenue line, period) | Revenue ($ millions) |
|---|---|
| MARA (total revenues, 2025) | 907.1 |
| IREN (Bitcoin Mining Revenue, year ended June 30, 2026) | 578.2 |
| Riot (Bitcoin Mining revenue, 2025) | 576.3 |
| Hut 8 (total revenue, 2025) | 235.1 |
| Cipher (revenue from bitcoin mining, 2025) | 223.9 |





IREN’s Bitcoin Mining Revenue reached **$578.2 million** in the year ended June 30, 2026. In 2025, Riot’s Bitcoin Mining revenue came to **$576.3 million** for the year. Hut 8 reported total revenue of **$235.1 million** for 2025, and Cipher Digital reported **$223.9 million** in revenue from bitcoin mining. Company revenue lines differ in scope and fiscal year, so the table compares filings rather than shares of network revenue.

## Listed Miner Quarterly Revenue in 2026

- MARA produced **2,422 BTC** at an average price of **$71,325** in Q2 2026.
- MARA sold **2,213 BTC** at an average price of **$73,078**.
- IREN reported AI Cloud Services revenue of **$70.5 million** for the quarter ended June 30, 2026.
- Riot’s quarterly revenue of **$174.2 million** included **$23.2 million** in Data Center revenue.
- [Cipher Digital](/cipher-mining-statistics/) posted Adjusted EBITDA of negative **$30 million** for Q2 2026.

| Company | Quarter | Revenue line | Revenue ($ millions) |
|---|---|---|---|
| MARA | Q2 2026 | Revenue | 174.9 |
| Riot | Q2 2026 | Quarterly revenue | 174.2 |
| IREN | Quarter ended June 30, 2026 | Bitcoin Mining Revenue | 66.7 |
| Cipher Digital | Q2 2026 | Revenue | 25 |

*Source: MARA Holdings, Riot Platforms, IREN, Cipher Digital SEC filings, August 2026*

## How Bitcoin Mining Revenue Is Measured

- Blockchain.com’s Miners Revenue series uses USD as its unit and a day as its period.
- The series counts the total value of coinbase block rewards and transaction fees paid to miners.
- Under [Bitcoin’s proof-of-work rules](/how-bitcoin-mining-works/), the first miner to successfully validate a block receives newly issued bitcoin and the associated transaction fees.
- By convention, the first transaction in a block starts a new coin owned by the creator of the block, per the Bitcoin whitepaper.
- mempool.space reports block fees in satoshis, listing **3,762,561,499** for block 840,000.

| Series | Publisher | Unit | Period |
|---|---|---|---|
| Miners Revenue | Blockchain.com | USD | Day |
| Total Transaction Fees, US dollars | Blockchain.com | USD | Day |
| Total Transaction Fees, bitcoin | Blockchain.com | BTC | Day |
| Block records | mempool.space | Satoshis | Per block |

*Source: Blockchain.com Charts, mempool.space*

### What is Bitcoin mining?

Bitcoin mining rigs, known as [application-specific integrated circuits (ASICs)](https://coinlaw.io/glossary/asic-mining/), compete to process unconfirmed transactions and assemble them into a block. The first miner to validate a block through proof-of-work receives newly issued bitcoin and the block’s transaction fees, per MARA’s annual report.

## What happens to miner revenue after the block subsidy ends?

Bitcoin Core forces the block subsidy to zero once halvings reach **64**, and halving events continue until the aggregate supply of bitcoin reaches **21,000,000**. After that point, the whitepaper says “the incentive can transition entirely to transaction fees”. Miner revenue would then depend wholly on what users pay to move bitcoin.

## Conclusion

Miners earned **$41.27 million** on October 28, 2026, against **$107.76 million** on April 20, 2024. Fees made up **0.51%** of the recent total. The subsidy carries the network’s miner income, and the 2023 and 2024 fee spikes faded within days. The next halving is anticipated to occur around **April 2028**, when the daily series will show how much of the next cut reaches miners.

Definition of Blockchain. Link to full glossary entry follows the description.**Blockchain**A distributed digital ledger that records transactions across a network, with each block cryptographically linked to the previous one for security.

[Read more about Blockchain](https://coinlaw.io/glossary/blockchain/)

Definition of Bitcoin Halving. Link to full glossary entry follows the description.**Bitcoin Halving**Bitcoin halving is a protocol rule that cuts each mining reward in half every 210,000 blocks (roughly four years) until the 21M supply cap.

[Read more about Bitcoin Halving](https://coinlaw.io/glossary/bitcoin-halving/)