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Link to original content: http://www.statista.com/statistics/793539/bitcoin-transaction-confirmation-time/
Bitcoin transaction time 2009-2024 | Statista

Bitcoin (BTC) block (mining) time from January 2009 to August 25, 2024

Published by
Raynor de Best,
Aug 26, 2024

The Bitcoin confirmation time - the time it takes to mine a block of Bitcoin transactions - fluctuated by several minutes over the course of 2024. While not often used for purchases, investors have flocked towards Bitcoin and other virtual currencies for investment. Fluctuations in price could lead to changes in investor activity, which would have correlating changes in transaction times. Given Bitcoin’s security algorithm, which depends on a distributed ledger, an increase in the number of Bitcoins in circulation could also lead to longer transaction times.

Average time it takes to mine a Bitcoin from January 2009 to August 25, 2024 (in minutes)

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Release date

August 2024

Region

Worldwide

Survey time period

January 2009 to August 25, 2024

Supplementary notes

Monthly figures are as of the end of that particular month.

Figures have been rounded.

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Overview

4

Energy consumption

4

Hardware

4

Mining difficulty

4

Transaction fees

4

Mining profitability

4

Further related statistics

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Topics

Bitcoin halvingInflation in the U.S.Inflation in EuropeInflation worldwideBitcoin
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