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Bitcoin miners have reached a monumental milestone, raking in a cumulative $71.49 billion in revenue since the cryptocurrency's inception. According to on-chain analytics firm Glassnode, this figure, as of Dec. 5, underscores the robust economic incentives and security driving the Bitcoin network.
This historic moment coincided with Bitcoin's price crossing the $100,000 threshold for the first time on Dec. 5, pushing the market capitalization beyond $2 trillion. The network, which has operated for 5,256 trading days since the Genesis Block, has become an unparalleled economic force in the digital asset ecosystem.
Bitcoin miners’ total revenue of $71.49 billion includes $67.31 billion in block subsidies and $4.18 billion from transaction fees. A remarkable 94.2% of Bitcoin’s capped 21 million supply—19,791,952 BTC—has already been mined.
Unprecedented Computational Growth
Bitcoin’s hashrate, a key measure of network security, has skyrocketed alongside its price. By Dec. 5, the network’s hashrate surged to an astonishing 804.4 quintillion hashes per second from just 128.1 quintillion at Bitcoin’s early stages.
Notably, 37% of all computational power ever utilized in Bitcoin mining occurred in 2024, reflecting increased activity and confidence in the network. With 873,304 blocks mined and 418 difficulty adjustments made since 2009, Bitcoin’s computational complexity and security continue to grow.
Beyond mining, Bitcoin’s transaction volume has reached staggering levels. The network has processed 1.12 billion transactions, equating to a transfer volume of $131 trillion since the Genesis Block.
The Journey to $100K
Bitcoin’s road to $100,000 has been nothing short of extraordinary. Over 5,256 trading days, its value climbed from fractions of a cent to six figures. Investors have experienced a mix of triumphs and setbacks, with $1.27 trillion in profits recorded on-chain alongside $592 billion in losses.
While the cryptocurrency has enjoyed 72 months of gains—averaging a 37.4% increase—it has also endured 71 months of declines, averaging a 14.2% drop. Despite the volatility, Bitcoin’s performance remains a testament to its resilience and investor optimism.
As of Dec. 12, Bitcoin was trading at $100,290, marking a nearly 2% increase within 24 hours.
Social Media Reactions
Crypto enthusiasts and skeptics alike took to X to share their thoughts on the milestone:
- @BTCfanatic42: “$71B for miners?! We’re living through the digital gold rush!”
- @CryptoDoubter: “This bubble is going to pop, mark my words. $100K isn’t sustainable.”
- @MiningKing23: “I’ve been mining since 2017, and this makes me proud to be part of the community!”
- @AltcoinHunter88: “Miners making billions, and I’m still waiting for my altcoins to take off…”
- @BlockheadJenny: “$100K Bitcoin… maybe this will finally shut the skeptics up. Or not.”
- @TechGuruMike: “The hashrate numbers are INSANE. Bitcoin is unstoppable at this point.”
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