An incentive for a miner who successfully calculates a valid hash in a block during mining.

Block reward refers to the cryptocurrency rewarded to a miner when they successfully validate a new block.

The block reward is made of two components: the block subsidy and the transactions fees. The block subsidy consists of newly generated coins and represents the biggest part of a block reward. The other part is made up of all fees paid by the transactions that are included in the block.

Because the block reward is almost entirely made of the block subsidy, it is very common to see people talking about the block subsidy while referring to it as the block reward. So in popular terminology, the term “block reward” doesn’t account for the fees.