Coinbase (NASDAQ:COIN) transactions are structured as the first transaction in a block, where the miner includes a newly minted amount of BTC as a reward for their effort in solving a complex mathematical problem to validate transactions and create a new block on the blockchain.
Coinbase transactions have a special format. Compared to a regular transaction input, a coinbase transaction has a different set of values that do not represent unspent transaction output (UTXO).