The 800,000th block of the Bitcoin network was also mined!

Today, Bitcoin celebrated a major milestone in its history by mining its 800,000th network block. In this regard, one of Glassnode’s analysts, nicknamed Checkmate, shared some interesting statistics on the progress of the Bitcoin network to date on Twitter.

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According to Checkmate’s analysis, a total of 19.437 million Bitcoins have been generated up to the 800,000th block and miners have received 267,700 Bitcoins as fees. The total income of miners reaches 52.593 billion dollars, the majority of which (94.5%) was from block subsidies and a smaller part (5.5%) from fees.
Of the 19.4 million bitcoins mined, approximately 7.5% have reportedly not been spent since the first exchange price in July 2010, suggesting that these coins may have been lost forever by early miners.
Additionally, 74.6% of bitcoins are held by long-term holders outside of exchanges, indicating a significant portion of the bitcoin user base is committed to it. Only 2.68 million bitcoins are held by short-term holders and 2.25 million bitcoins are on exchanges.
On another note, market analyst Joe Consorti offered his thoughts on this important milestone. Consersi noted that with the mining of the 800,000th block, only 40,000 more blocks (about 9 months) remain until Bitcoin’s fourth halving.
Bitcoin’s achievements in the last 14.5 years are remarkable. With 867 million confirmed transactions, an average of 1,084 transactions per block, and all this data on a 497GB blockchain, Bitcoin has proven its resilience and value as a pioneering digital currency.