Brink Publishes 2023 Annual Report, Outlining $1M+ Contributions to Bitcoin Developers

The organization, founded in 2020 by Bitcoin developers John Newbery and Mike Schmidt, aims to provide financial support and mentorship to developers working on the Bitcoin protocol.

Non-profit organization Brink, focused on supporting open-source Bitcoin development, has published its annual report for 2023, revealing contributions of over $1 million to Bitcoin developers.

Founded by Bitcoin developers John Newbery and Mike Schmidt in 2020, Brink aims to provide financial support and mentorship to developers working on the Bitcoin protocol.

In its 4th-anniversary report, Brink disclosed receiving approximately $2.4 million in donations from over 500 contributors during the past year, with a significant donation from Jack Dorsey's StartSmall initiative.

Brink's 2023 expenditures amounted to around $1.6 million, out of which over $1.2 million was dedicated to developer salaries and grants.

This funding enabled developers to focus on projects centered around the improvement of the Bitcoin protocol.

Considering that Bitcoin's code is maintained by voluntary open-source developers, organizations like Brink help ensure that essential work on the protocol is adequately funded.

Some proponents believe that an increase in full-time developers working on Bitcoin can contribute to a more robust network.

The report further highlighted achievements from developers supported by Brink, including contributions to code review, security improvements, testing infrastructure, and research on potential upgrades.

The annual report provides a detailed account of how Brink allocates its funds and the progress made by the developers it supports, offering transparency into its efforts to maintain Bitcoin as a decentralized open-source project.