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 2017 to January 14, 2024
(in minutes)
Characteristic
Time in minutes
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Exclusive Premium Statistic
To access all Premium Statistics, you need a paid Statista Account
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
BitInfoCharts. (January 15, 2024). Average time it takes to mine a Bitcoin from January 2017 to January 14, 2024 (in minutes) [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/793539/bitcoin-transaction-confirmation-time/
BitInfoCharts. "Average time it takes to mine a Bitcoin from January 2017 to January 14, 2024 (in minutes)." Chart. January 15, 2024. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/793539/bitcoin-transaction-confirmation-time/
BitInfoCharts. (2024). Average time it takes to mine a Bitcoin from January 2017 to January 14, 2024 (in minutes). Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/793539/bitcoin-transaction-confirmation-time/
BitInfoCharts. "Average Time It Takes to Mine a Bitcoin from January 2017 to January 14, 2024 (in Minutes)." Statista, Statista Inc., 15 Jan 2024, https://www.statista.com/statistics/793539/bitcoin-transaction-confirmation-time/
BitInfoCharts, Average time it takes to mine a Bitcoin from January 2017 to January 14, 2024 (in minutes) Statista, https://www.statista.com/statistics/793539/bitcoin-transaction-confirmation-time/ (last visited July 22, 2024)
Average time it takes to mine a Bitcoin from January 2017 to January 14, 2024 (in minutes) [Graph], BitInfoCharts, January 15, 2024. [Online]. Available: https://www.statista.com/statistics/793539/bitcoin-transaction-confirmation-time/