New bitcoin a valid block is allowed to create under the issuance schedule.
Block subsidy meaning
The block subsidy is the newly issued portion of a miner's block reward. It began at 50 BTC per block and is cut in half every 210,000 blocks. This rule makes issuance predictable and places an upper bound just below 21 million bitcoin.
How it works in Bitcoin
Nodes derive the allowed subsidy from block height. Miners do not vote on how many coins to create. If a coinbase transaction claims more than the permitted subsidy plus available fees, validating nodes reject the whole block.
A simple example
After the 2024 halving, the subsidy became 3.125 BTC per block. The next halving will be triggered by block height rather than a calendar appointment.
Why Block subsidy matters
Mining terms connect proof of work, block production, incentives and energy. They should not be used as shorthand for node validation or guaranteed profitability.
What people often get wrong
The subsidy is not the miner's whole income. Transaction fees are separate, and the fiat value of both changes with the market price.
Quick checks before using the term
- Is this about hashrate, energy, revenue or validation?
- Which unit and period does the claim use?
- What changes when difficulty or fees move?
Apply these questions to the concrete example above. A precise answer is more useful than repeating the definition without naming the actor, rule or failure path.
Check the primary reference
This entry is written in plain English, but the technical source is available when you need exact protocol detail.
Bitcoin Developer Guide: Mining ↗