Bitcoin

On average, what percentage of total block rewards are transaction fees?

that much block reward It consists of two parts, block grant and transaction fee. The block subsidy is currently ₿6.25 per block and will be halved from 840,000 blocks in about 3 months. Transaction fees can be quite variable as they depend on the current demand for blockspace. The average fee collected in the last 24 hours was ₿0.33 per block. About a month ago, miners briefly collected block rewards with transaction fees exceeding ₿7 per block.

Screenshot of blocks with highest fees since December 1, 2023.

via blockchair.com

Knowing the average fee for a block makes it easy to estimate transaction fees.

The two most recent blocks and the next block in mempool.space, showing the average fee rate for the block.

via mempool.space

The virtual size of a block can be up to 1,000,000vB, so 1s/vB translates to a transaction fee of 10m₿. So here ~38 sat/vB indicates that the block collected a fee of approximately 380m₿ = 0.38₿.

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