# The block reward

The block reward is what a miner earns for a block: the subsidy (new bitcoin) plus all transaction fees. See today's reward and how it is changing.

Canonical page: https://mybitcoinexplorer.com/learn/block-reward
Topic: Mining
Published: 2026-10-29
Updated: 2026-10-30


## Two parts
~~~
block reward = subsidy + total fees
~~~

> Diagram: What a miner earns for one block — Subsidy: 3.125 BTC since 2024 → Fees: from every transaction → *Block reward: paid in the coinbase

- The **subsidy** is new bitcoin, set by the [halving](https://mybitcoinexplorer.com/learn/bitcoin-halving) schedule.
- **Fees** are the leftovers from every transaction in the block. See [How Bitcoin transaction fees work](https://mybitcoinexplorer.com/learn/bitcoin-transaction-fees).

## Subsidy over time
> Diagram: The subsidy per block halves every 210,000 blocks — 

## Rules nodes enforce
- The [The coinbase transaction](https://mybitcoinexplorer.com/learn/coinbase-transaction) may claim **at most** subsidy + fees. Claiming more makes the whole block invalid.
- Claiming less is allowed, but the unclaimed amount is lost forever.
- The reward can't be spent for 100 blocks.

## The future
Each halving cuts the subsidy, so fees will gradually become a larger share of miners' income. Around 2140, the subsidy reaches zero and fees are all that's left.


## See a real reward
Open the [latest block](/blocks) on MyBitcoinExplorer and its first transaction. The outputs add up to the subsidy plus the block's fees. When the mempool is busy, fees can add a noticeable amount on top of 3.125 BTC; when it is quiet, the subsidy is almost everything.

## The security budget
The total reward is what pays for Bitcoin's security. A frequent long-term question is whether fees will grow enough to replace the shrinking subsidy. Nobody knows yet; it depends on future demand for block space.


## Key takeaways

- Block reward = subsidy + fees.
- Nodes reject blocks claiming more than allowed.
- As subsidies shrink, fees become the main incentive.

## Common questions

### What is the block reward today?

The subsidy is 3.125 BTC since April 2024, plus whatever fees the block's transactions pay.

### Is the block reward the same as the coinbase?

The coinbase transaction is how the reward is paid out.

### How much do miners earn per block?

3.125 BTC of new bitcoin since April 2024, plus all fees in the block.

### Is the block reward the same for every block?

The subsidy is the same within a halving period; the fee part changes every block.

## Related lessons

- [The Bitcoin halving](https://mybitcoinexplorer.com/learn/bitcoin-halving)
- [The coinbase transaction](https://mybitcoinexplorer.com/learn/coinbase-transaction)
- [Where does new bitcoin come from?](https://mybitcoinexplorer.com/learn/where-does-new-bitcoin-come-from)
- [Why there will only be 21 million bitcoin](https://mybitcoinexplorer.com/learn/bitcoin-supply-21-million)