U.Today – According to Glassnode, miners have reached a monumental milestone by earning a total of $71.49 billion.
After 5,256 business days, on December 5th, the Bitcoin price exceeded $100,000 for the first time, and the market capitalization briefly exceeded $2 trillion.
According to on-chain analytics platform Glassnode, Bitcoin miners have earned $71.49 billion since their inception, attesting to the network's robust security and financial incentives.
As of December 5, when Bitcoin first hit $100,000, Bitcoin miners' revenue from securing the network and processing transactions reached $71.49 billion. This includes $67.31 billion in block grants and $4.18 billion in transaction fees. A total of 19,791,952 BTC was mined, representing 94.2% of the total supply cap of 21 million.
Since the Genesis block, 873,304 blocks have been mined and the average block time was 11.8 minutes before Bitcoin reached its historic price of $100,000 on December 5, 2024. After 418 difficulty adjustments, excluding periods of no adjustments, the network difficulty is 446,331,432,498,125,300,000,000 as Bitcoin's security and computational power continue to grow.
By the time Bitcoin reached $100,000, the network's hashrate had increased from 128,185 hashes/second to over 804,407,834,059,443,100,000 hashes/second. Miners have calculated approximately 5.01 x 1028 hashes in total so far. Interestingly, 37% of all calculated hashes occurred in 2024.
Bitcoin has also seen an incredible increase in transactions. To date, the network has successfully processed 1.12 billion transactions (unfiltered). Since the Genesis block, Bitcoin has processed $131 trillion in transfer volume.
Bitcoin price trends
Bitcoin first exceeded $100,000 on December 5th, and it took three days for the daily candlestick closing price to exceed $100,000.
The price of Bitcoin has been actively traded for 5,256 days, ranging from the low end of 1 cent to $100,000. During this process, monthly candlesticks were positive 72 times (including December 2024), with an average gain of 37.4%. There were 71 negative monthly candlesticks, with an average decline of -14.2%.
According to Glassnode, investors made a total of $1.27 trillion in on-chain profits and lost -$592 billion during this unprecedented market boom.
At the time of writing, BTC is up nearly 2% in the past 24 hours to $100,290.
This article was originally published on U.Today
