Bitcoin miners are experiencing record dollar earnings despite receiving significantly fewer BTC per block compared to 2012. Currently, miners earn 3.125 BTC per block, a 93.75% reduction from the original 50 BTC. However, due to Bitcoin's substantial price appreciation, their dollar-denominated rewards have reached unprecedented levels. Historical data indicates that block rewards in dollar terms have consistently increased across all halving epochs. In Epoch 4 (2020–2024), rewards soared from $54,000 to $398,000, marking a 637% increase. In the ongoing Epoch 5, rewards have already risen 71% to $340,000 per block. Despite the initial revenue cut after each halving, miners often see revenue increases of 300–600% by the epoch's end. Recent on-chain data suggests miners sold Bitcoin at high rates in late 2025, potentially capitalizing on a local price peak before a market correction.