Halving Fee Record 2024 04 20 event

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Overview

Block 840,000, mined by the ViaBTC pool on April 20, 2024 and the block that triggered Bitcoin's fourth halving, set an all-time record for transaction fees in a single block: roughly 37.6 BTC, worth about $2.4 million, on top of the newly reduced 3.125 BTC subsidy. The fee spike was driven by users competing to inscribe rare satoshis and to mint tokens through the Runes protocol, which launched at the halving block. In the days that followed, miners captured nine of the ten highest-fee blocks ever recorded.

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Frequently asked questions

How much was paid in fees in the halving block?

Approximately 37.6 BTC, about $2.4 million at the time, making block 840,000 the most fee-rich block in Bitcoin's history.

Why were fees so high?

The Runes protocol launched at block 840,000 and users also competed to capture rare satoshis, producing intense competition for blockspace at exactly that block.

Who mined block 840,000?

The ViaBTC mining pool, which collected the record fees alongside the post-halving 3.125 BTC block subsidy.