The block reward is a combination of the block subsidy and all transaction fees paid by transactions in a specific block. When miners mine a block, they receive a block subsidy in the form of newly minted bitcoin. All transactions also include a fee, which miners collect. The block reward is the sum of these two amounts. As block subsidies are cut in half every four years, fees will slowly become a greater portion of the block reward. The term block reward and block subsidy are occasionally used interchangeably.