- Bitcoin miners have earned $52.593 billion in cumulative revenue.
- Approximately 7.5% of mined bitcoins are likely lost and unrecoverable.
- The Bitcoin network has facilitated transactions worth $109 trillion.
Glassnode’s top on-chain analyst, known as Checkmate on Twitter, has recently shed light on a series of significant milestones accomplished by Bitcoin since its inception more than fourteen years ago. Among the plethora of statistics shared about this groundbreaking cryptocurrency, Checkmate highlighted the total number of blocks mined on the Bitcoin network, showcasing the remarkable progress made by this pioneering digital asset.
Checkmate, a prominent authority in the crypto industry, has reported that the Bitcoin network has witnessed an impressive production of 800,000 blocks by miners, resulting in the successful mining of a staggering 19.437 million bitcoins. Additionally, Checkmate has highlighted that since the inception of Bitcoin, miners on the network have received a substantial sum of 268,700 bitcoins as fees. By considering the current price of Bitcoin, Checkmate has estimated the cumulative revenue earned by Bitcoin miners to be an astounding $52.593 billion. This calculation indicates an average payment of $65,700 per block, considering the 800,000 blocks mined.
According to Checkmate, out of the total 19.437 million bitcoins mined to date, approximately 1.457 million bitcoins remain unspent, accounting for roughly 7.5% of the overall supply. The on-chain analyst suggests that these particular bitcoins are likely lost and unlikely to be recovered. Additionally, Checkmate highlights that 14.505 million bitcoins, equivalent to 74.6% of the total supply, are held by long-term holders outside of exchanges. Short-term holders possess 2.68 million bitcoins, while exchanges store 2.25 million bitcoins.
Checkmate, a prominent figure in the crypto industry, has shed light on an intriguing Bitcoin statistic – the Unspent Transactions (UTXO) of Bitcoin. According to his analysis, the UTXO of Bitcoin currently stands at an impressive 163.6 million UTXOs. Remarkably, the Bitcoin network has witnessed the creation of a staggering 2.439 billion UTXOs throughout its existence. However, it is worth noting that a significant portion, precisely 2.275 billion UTXOs, have already been spent or rendered obsolete. This data provides valuable insights into the utilization and lifecycle of UTXOs within the Bitcoin ecosystem.
Checkmate elucidated that the generation and annihilation of Unspent Transaction Outputs (UTXOs) coincide with the movement of Bitcoin quantities. Consequently, a staggering 8.378 billion bitcoins have traversed through the 800,000 established Bitcoin blocks. This translates to an average expenditure of 10,473 bitcoins per block. Regarding US Dollar valuation, Checkmate highlighted that the Bitcoin network has facilitated transactions worth a remarkable $109 trillion, averaging an impressive $137 million per block.
