edgea non-profit organization focused on funding open-source Bitcoin development, has published its annual report showing over $1 million in donations to Bitcoin developers in 2023. It was founded in 2020 by well-known Bitcoin developers John Newberry and Mike Schmidt, with the goal of providing financial support and mentoring to promising developers working on open-source Bitcoin development.
In the report, published on its fourth anniversary, Brink revealed that it received nearly $2.4 million in donations last year from more than 500 contributors, including Jack Dorsey’s donations. start small Initiative as a major donor.
Brink’s total expenses in 2023 were approximately $1.6 million. More than $1.2 million went directly to developer salaries and grants, enabling them to focus on improvements to the Bitcoin protocol.
Since Bitcoin’s code is voluntarily maintained by open source developers, organizations like Brink help ensure that critical work on the protocol is adequately funded. Proponents believe that having more developers dedicated to improving Bitcoin leads to a stronger network.
The report highlights key achievements made by Brink-sponsored developers in areas such as code reviews, security improvements, testing infrastructure, and upgrade research.
The annual report provides transparency into how Brink directs funding to support the Bitcoin developer community. Disclosure of spending and engineering progress helps validate the nonprofit’s role in supporting Bitcoin as a decentralized, open-source project.