On Monday, July 24, a significant event in the history of the first cryptocurrency took place – 800,000 blocks were mined in the Bitcoin network. There are only 40,000 blocks left until the next halving.

800000 block
contains 3721 transactions per 1.64 megabytes at a rate of $29,742 per coin. Glassnode Lead Analyst James Check, aka Checkmate on Twitter, summarized Bitcoin’s achievements to date. Until block 800,000, a total of 19.4 million BTC had been mined, with miners receiving 268,700 BTC in fees. All-time miner revenue was $52.5 billion, with most of it coming from block rewards (94.5%) and the rest from fees (5.5%). It turns out that the average reward of miners per block is about $65,700, the analyst writes.

Of the 19.4 million BTC mined, roughly 7.5% have not been mined since July 2010. There are speculations that these coins may be permanently lost by early miners. 74.6% of bitcoins are held by long-term holders outside the trading floors. Only 2.68 million BTC are held by short-term investors, while 2.25 million BTC are listed on exchanges.

The Bitcoin network has over 867 million transactions confirmed per block, with an average of 1,084 transactions. Over the course of 14.5 years, these 867 million transactions generated $109 trillion and generated 2.439 billion unspent outputs (UTXOs). On average, funds in the amount of $126,400 are transferred per transaction. The Glassnode analyst noted that all of the above is neatly packed into a memory capacity of no more than 497 GB.

In May, a single miner mined a block in the Bitcoin network at number 790,958 and received a reward of 6.25 BTC for this. According to The Block, bitcoin miners made $916.6 million in revenue that month.