Price of bitcoin * total block reward (new coins + fees) The total value of the miner reward does increase with price, but because of halvings every 210,000 bl

Price of bitcoin * total block reward (new coins + fees) The total value of the miner reward does increase with price, but because of halvings every 210,000 blocks it's a slower rate than the price increases on its own. Note here, https://www.blockchain.com/charts/miners-revenue https://www.blockchain.com/charts/miners-revenue, that the current miner reward (in USD) is currently lower than it was at the peak of the 2017 bull run, despite the unit price being approximately double.