How much will Bitcoin miners' incomes be reduced after the halving?
There are 32 days left until the Bitcoin halving, which is expected to occur on April 20, 2024 and will halve miners' rewards.
On this day, the Bitcoin inflation rate will decrease significantly - now miners are mining approximately 900 BTC, which equals about $25.42 million per day. After halving, the daily generation of coins will be only 450 BTC, accordingly, miners’ income will drop to approximately $12.71 million.
Bitcoin is currently hovering just above $67,000, which translates to $60.3 million in daily revenue from block rewards alone, not including transaction fees. If the price remains at current levels, halving the daily production of 450 BTC would still net miners $30.15 million, exceeding the $25.42 million earned from 900 Bitcoins in April last year.
In addition, miners are now earning more per transaction - the average fee has risen to $8.28 or 37.7 satoshi per virtual byte from $2.05 per transfer in April 2023.
