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Every 10 minutes,[47] the successful miner finding the new block is allowed by the rest of the network to collect for themselves all transaction fees from transactions they included in the block, as well as a predetermined reward of newly created bitcoins.[48] As of 11 May 2020, this reward is ₿6.25 in newly created bitcoins per block.[49] To claim this reward, a special transaction called a coinbase is included in the block, with the miner as the payee.[7]: ch. 8  All bitcoins in existence have been created through this type of transaction. The bitcoin protocol specifies that the reward for adding a block will be reduced by half every 210,000 blocks (approximately every four years), until ₿21 million[h] are generated. The last new bitcoin will be generated around the year 2140. After that, a successful miner would be rewarded by transaction fees only.[50]