How Many Bitcoins Are Mined Each Day?
Bitcoin mining is a process wherein transactions are verified and added to the blockchain, and also a means through which new bitcoins are released. The amount of Bitcoin mined daily is directly influenced by the current block reward, which is the incentive miners receive for validating transactions.
The current block reward as of October 2023 stands at 6.25 bitcoins per block. A new block is added to the blockchain approximately every 10 minutes. This means that on average, about 144 blocks are mined every day (calculated as 60 minutes × 24 hours / 10 minutes per block).
Multiplying the daily block count by the block reward gives us:
144 blocks/day × 6.25 BTC/block = 900 BTC/day
Thus, around 900 bitcoins are mined every day. However, it's important to note that this number decreases approximately every four years during an event known as the "halving," where the block reward is cut in half. This halving event significantly impacts the rate at which new bitcoins are introduced into circulation, and it also plays a crucial role in Bitcoin's overall supply dynamics.
In summary, while about 900 bitcoins are mined each day today, this figure is subject to change due to halving events and variations in mining difficulty.