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Question

Hello. At the time of this question the reward per block is 6.25 bitcoins. But if I understand correctly that does not include transaction fees. On average, in addition to the 6.25 bitcoins, how many additional bitcoins do miners currently get that are derived from transaction fees and not new bitcoin being created?

More context

I know it varies since the number of transactions varies, as does the cost of the individual fees added to each block, but even some insight on the range of variation in size would be appreciated.

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The block reward consists of two parts, the block subsidy and the transaction fees. The block subsidy is currently 6.25 ₿ per block and will halve at block 840'000 in about three months. The transaction fees depend on the current demand for blockspace and can therefore be fairly variable. The average feerates collected in the last 24h were 0.33 ₿ per block. About a month ago, miners briefly collected block rewards with transaction fees of over 7 ₿ per block:

A screenshot of the blocks with the highest fees collected since December 1st 2023.

via blockchair.com

If you know the average feerate in a block, you can easily estimate the transaction fees:

The two most recent blocks and the next upcoming block on mempool.space with the average feerate in the block pointed out

via mempool.space

Since blocks can have up to 1'000'000 vB in virtual size, 1 s/vB translates to 10 m₿ of transaction fees. So, ~38 sat/vB here indicates that the block collected about 380 m₿ = 0.38 ₿ in fees.

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  • Thanks. Wasn't aware the numbers can jump so much transaction fees per block can exceed the block subsidy. Moments of congestion makes sense. Thanks. Jan 26 at 15:33

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