Bitcoin: recovery and Lightning
Bitcoin coinbase maturity: why a new mining reward cannot move immediately
A consensus waiting period for mining outputs is distinct from ordinary payment confirmations.
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The special transaction in a block
A Bitcoin block begins with a coinbase transaction that creates the miner’s reward outputs within the allowed subsidy and fee rules. ‘Coinbase’ here is a protocol term, unrelated to the exchange of the same name. These outputs have a consensus maturity restriction: a spend must be in a block at least 100 heights after the block that created them. 1
Why the distinction matters
A reorganisation can remove a block from the accepted chain. Its newly created reward outputs then disappear with it. The maturity rule provides a buffer before those outputs can enter subsequent spending chains. It does not eliminate every reorganisation risk, and it is not a universal requirement that all Bitcoin deposits wait 100 blocks. Ordinary payments spend previously existing outputs and follow different confirmation considerations. 2
Read the height, not just the balance
An explorer or wallet may show an immature reward as part of an observed balance while excluding it from spendable funds. This is not necessarily a withdrawal freeze. Ask whether the output is a coinbase output, what height created it and whether the proposed spending block satisfies the rule. A pool’s account balance is another layer: pool payout policies need not mirror the maturity of any particular output.
Reporting mining proceeds
Separate the block’s reward, the reward’s maturity and an eventual pool payout in a mining report. A chart that collapses all 3 into ‘cash received today’ mixes consensus rules with a business relationship. Record the relevant transaction and block, and identify whether the miner directly controls the reward output or is instead owed a payout by a pool.
Worked example
If a reward output is created at height 900,000, a transaction spending it can be included at height 900,100 or later. A wallet’s displayed confirmation count may use a different starting convention. The height difference is the unambiguous rule in this example.