As we all know the reward for mining blocks is subject to halving the reward every 210,000 blocks (or every 4 years or so).
However, this halving of the amount of mined bitcoins is relatively important for a miner interested in profit, this is because even mining less bitcoin, but with a higher exchange value, is still convenient. From the graph, which expresses miners’ reward in dollars, we can well see that miners’ earnings are mainly (if not only) influenced by the bitcoin’s price, not so much by the block’s mining reward.
Block rewards, along with transaction fees, represent miners’ earnings for their business. At the moment, most of the income comes from block rewards, but in a not so distant future transaction fees could become the main source of income for miners.
This chart was made with the PlutoHash App, you can sign up at no cost and do your own on-chain analysis!