The $81 billion 5G spectrum auction is dominated by Verizon, AT&T, and T-Mobile.

Verizon bids more than $45 billion in the C band auction for important midband spectrum licences to develop its 5G network. The nation’s top wireless providers swept the Federal Communications Commission’s most recent 5G spectrum auction, raking in more than $81 billion in revenue. On Wednesday, the FCC announced the identities and winning bids of the auction’s top five bidders.

Verizon spent the most money on the auction, paying $45 billion for 3,511 spectrum licences under the name Cellco Partnership. With a bid of $23 billion for 1,621 licences, AT&T came in second. T-Mobile came in third with a $9 billion proposal for 142 licences.

Satellite companies have exploited the so-called C-band spectrum, which contains 500MHz of bandwidth between 3.7 and 4.2GHz, to transmit video programmes to cable providers. In December, the FCC began auctioning off 280MHz of the spectrum block, which finished on January 15. About 200MHz of this band’s spectrum will be used for TV programming in the future.

The auction of the midband spectrum was expected to attract a lot of interest, according to wireless specialists. According to some estimates, the valuable spectrum may be valued as much as $60 billion. However, the ultimate total exceeded all expectations, raising more over $81 billion for the US Treasury.

The hefty price tag and final list of winners demonstrate how important midband spectrum is to the nation’s biggest telecom operators as they build out their 5G networks.

5G refers to the next generation of wireless technology, which is intended to boost network speeds and improve network responsiveness. The technology may pave the way for applications such as self-driving cars, as well as new AR and VR experiences on smartphones.

Midband spectrum, like the C-band, is crucial for 5G installations because it provides both geographic coverage and the ability to transport huge volumes of data.

This combination is particularly tempting to cellular behemoths looking to expand their spectrum holdings.

In a statement, FCC Acting Chairwoman Jessica Rosenworcel stated, “It is critical to America’s economic recovery that we deliver on the promise of next generation wireless services for everyone, everywhere.” “This auction marks a shift in our country’s strategy to 5G toward midband spectrum that can enable fast, reliable, and ubiquitous service that is competitive with our global counterparts,” the White House said.