Definition

Block reward

The newly minted coins paid to a miner or validator for proposing a valid block, plus the transaction fees in that block.

Bitcoin's block reward started at 50 BTC in 2009 and halves every 210,000 blocks (~4 years): 25 BTC (2012), 12.5 (2016), 6.25 (2020), 3.125 (2024). The next halving will drop it to 1.5625 BTC around 2028. The schedule continues until the 21M cap is reached around 2140.

Block reward = subsidy (newly issued coins) + fees (paid by senders for inclusion). In Bitcoin's early years, subsidy dominated. As halvings shrink subsidy and adoption grows fees, the mix shifts: post-2024 halving, fees occasionally exceed subsidy during high-demand periods.

Proof-of-Stake networks calculate validator rewards differently — typically based on stake size and uptime, with no halving schedule. Ethereum's issuance is dynamic: net issuance after EIP-1559 base-fee burn can be negative during high-demand periods, making ETH effectively deflationary.

Why it matters

Block rewards drive miner/validator economics and overall coin supply growth. Halving events are widely watched as supply-shock catalysts in Bitcoin's 4-year cycles.

How CryptoRadar24 tracks it

CryptoRadar24 tracks halving schedules and block-reward dynamics when reporting on supply, miner economics, and post-halving market behavior.

Related terms

Halving
Scheduled reduction of block mining rewards by 50%, reducing the rate of new coin issuance.
Hash rate
The total computational power being used to mine and process transactions on a Proof-of-Work blockchain, measured in hashes per second.
Supply
The number of coins currently in circulation, or the maximum that will ever exist.

FAQ

When is the next Bitcoin halving?

Around April 2028. Each halving occurs 210,000 blocks after the last; at ~10-minute block times that's every ~4 years.

Does halving always pump the price?

Historically post-halving has correlated with bull markets (2012-13, 2016-17, 2020-21), but causation is debated. The supply shock is real; whether it drives price or coincides with broader cycles is unclear.

What happens after all 21M BTC are mined?

Miners earn fees only — no new BTC is issued. This will happen around 2140. The economic question is whether fees alone provide enough security; the network has 100+ years to evolve toward that equilibrium.

Are PoS validator rewards similar?

In structure, no — there's no halving and rewards depend on stake size, uptime, and overall network participation. ETH issuance can even be negative during high-demand periods due to EIP-1559 fee burn.