What is the coinbase transaction?
The coinbase transaction is the first transaction in every Bitcoin block. It has no inputs and creates the block reward for the miner.
How it works
The miner writes it, so it can pay any address and carry a short message; pools use that space to tag their blocks. Its outputs cannot be spent until 100 more blocks have been mined.
Why it matters
It is how new bitcoin enters circulation and how miners get paid. It has nothing to do with the exchange of the same name.
Related terms
All terms: the Bitcoin mining glossary.
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March 22–24, 2027 · Irving Convention Center · Dallas
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