Coinbase Transaction

The first transaction in a block that creates the block reward out of nothing and pays the miner.

The coinbase transaction is unique because it has no sender; it is the one transaction allowed to create new coins. It sits at the top of every block and pays the block reward plus collected transaction fees to the address the miner specified. The name is unrelated to any company; it is the original term from the protocol itself. Because the coinbase output funds depend on a block staying in the chain, those coins are locked for a maturity period of additional confirmations before they can be spent, which protects the network against rewards from blocks that get reorganised away.