# Where does new bitcoin come from?

Every new bitcoin is created by miners in the first transaction of each block, on a fixed schedule every node checks. See how much and how often.

Canonical page: https://mybitcoinexplorer.com/learn/where-does-new-bitcoin-come-from
Topic: Bitcoin basics
Published: 2026-10-29
Updated: 2026-10-30


## Created in every block
New bitcoin is created in one place only: the **[The coinbase transaction](https://mybitcoinexplorer.com/learn/coinbase-transaction)**, the first transaction in each [block](https://mybitcoinexplorer.com/learn/what-is-a-block). The miner who finds the block writes this transaction and pays themselves:

- the **subsidy**: brand-new bitcoin, currently 3.125 BTC per block, plus
- the **fees** from every transaction in the block.

> Diagram: How a block's reward is made up — New coins: subsidy → Fees: from transactions → *Coinbase transaction: paid to the miner

## Why miners get paid
Mining costs electricity and hardware. The reward pays miners for securing the network with [Proof of work](https://mybitcoinexplorer.com/learn/proof-of-work). It is also how coins were first distributed: there was no pre-sale, and the first coins were mined by anyone running the software.

## The schedule
The subsidy halves every 210,000 blocks (see [The Bitcoin halving](https://mybitcoinexplorer.com/learn/bitcoin-halving)). Over time fees will make up a bigger part of miners' income.

### Worked example: The first halving block
[Block 210,000](/block/210000), mined in November 2012, was the first block whose subsidy was 25 BTC instead of 50.


> Newly mined coins can't be spent for 100 blocks. This "coinbase maturity" rule protects against problems if a block is later replaced in a [reorg](https://mybitcoinexplorer.com/learn/stale-blocks-and-reorgs).


## How much is created per day?
About 144 blocks are mined per day. At 3.125 BTC each, that is roughly **450 new bitcoin per day** after the 2024 halving, falling to about 225 per day after the next halving.

## Who gets it?
Whoever mines each block: almost always a [mining pool](https://mybitcoinexplorer.com/learn/mining-pools), which then shares the reward among its miners. Nobody else receives newly created coins.

## See a new coinbase
Open the [latest block](/blocks) on MyBitcoinExplorer and click its first transaction: that is the coinbase, creating new bitcoin and collecting the fees.


## Key takeaways

- New bitcoin is created only in each block's coinbase transaction.
- Miners receive the subsidy plus all transaction fees in the block.
- The subsidy halves every 210,000 blocks.

## Common questions

### Can anyone create bitcoin?

Only by mining a valid block, which requires winning the proof-of-work competition.

### What is the block reward right now?

Since the April 2024 halving at block 840,000, the subsidy is 3.125 BTC per block, plus fees.

### Do miners create bitcoin out of nothing?

The coinbase transaction has no real input, so yes, new coins appear there, but only up to the amount the rules allow.

### Can new bitcoin be created any other way?

No. The coinbase transaction in each block is the only source of new coins.

## Related lessons

- [The block reward](https://mybitcoinexplorer.com/learn/block-reward)
- [The coinbase transaction](https://mybitcoinexplorer.com/learn/coinbase-transaction)
- [The Bitcoin halving](https://mybitcoinexplorer.com/learn/bitcoin-halving)
- [What is Bitcoin mining?](https://mybitcoinexplorer.com/learn/what-is-bitcoin-mining)