Coins: 14,821
Exchanges: 1,140
Market Cap: $2.36T 2.6%
24h Vol: $114.994B
Gas: 4 GWEI
Go Ad-free

Bitcoin Halving

Bitcoin block reward will decrease from 3.125 to 1.5625 coins in approximately
Estimated date & time of reward drop:
18 April 2028 06:28
* Bitcoin data powered by blockchair
#849,386
Current Block
#1,050,000
Bitcoin Halving at Block
#200,614
Block To Go

What is Bitcoin Halving?

Bitcoin has a total supply of 21 million. The underlying code ensures that only 21 million bitcoins will ever exist. Bitcoin’s finite supply is a strong economic statement and supports its value system.

Bitcoin is distributed through mining. The 21 million bitcoins in existence are scheduled to be mined through the year 2140. That is, the last bitcoin is expected to be mined in the year 2140. At the current rate of emission, the unmined bitcoin will be exhausted before this speculated time. Almost 90% of bitcoin’s total supply has been mined. About 900 bitcoins are mined per day, currently.

To sustain the emission and increase scarcity, the number of bitcoin emitted per block is regularly reduced. This process of reducing the bitcoin emission per block is known as Bitcoin Halving.

After a predetermined block height (a number that is used to indicate a particular block), the amount of bitcoin emitted per block is reduced to half of the previous number. For bitcoin, new halving occurs after an interval of 210,000 blocks or 4 years.

The most recent (2020) halving reduced bitcoin emission from 12.5 bitcoin per block to 6.25 bitcoin per block. This means that instead of 12.5 bitcoins, miners will now be rewarded with 6.25 bitcoins per block mined.

Why is Bitcoin Halving Important?

Bitcoin halving serves both economic and sustenance purposes.

On the aspect of bitcoin’s economy, halving creates a scarcity pattern for bitcoin. Against a varying demand, bitcoin halving reduces the rate at which bitcoin is supplied. The demand for bitcoin has seen a consistent rise over the years, this has been met by a constant decrease in the supply rate.

To say the least, it solidifies bitcoin’s status as a store of value. A slower supply against a rising demand ensures that bitcoin is worth even more over time. Considering market sentiments and the craving for scarce commodities, the effect of Halving on bitcoin’s value exceeds the boundaries of demand and supply economics.

An estimated 3 million bitcoins are currently lost to forgotten wallet details, lost hard drives, and bitcoins owned by deceased investors. The majority of this figure is lost without chances of recovery. Considering the rate at which bitcoin is completely lost, bitcoin is a deflationary currency, and halving further complements this scarcity.

On the aspect of sustenance, bitcoin mining incentivizes miners to validate blocks and guard the bitcoin network. Miners ensure that the blockchain is protected from malicious attempts. As long as bitcoin’s emission continues, miners are drawn to the mining exercise and the bitcoin blockchain remains secured.

Halving sustains supply and hence mining. With halving creating scarcity, driving up value, and slowing down the emission rate of bitcoin, more miners are attracted to secure the blockchain for a longer period of time.

Bitcoin Halving Chart

The chart below illustrates the developments in tokenomics and miners’ rewards as a result of bitcoin halving. It shows a consistent decrease in block rewards as the supply gradually slows down with each halving.
bitcoin supply curve

Bitcoin Halving Dates

The halving algorithm was developed in the initial bitcoin release. Bitcoin’s white paper featured an explanation for a constant reduction in emissions and the schedule for this event.

Four years after bitcoin’s genesis block and after over 10 million bitcoins and 210,000 blocks have been mined, the first halving occurred on November 28, 2012. The first halving event reduced the bitcoin mining reward to 25 bitcoins per block from an initial 50 bitcoins per block.

The recent halving occurred in April 20, 2024 at the block height of 840,000, reducing the bitcoin block reward from 6.25 to 3.125 bitcoin.

When Is The Next Bitcoin Halving?

The next bitcoin halving is expected to happen on April 17, 2028, at the block height of 1,050,000. When this happens, bitcoin’s block reward will be reduced to 1.5625.

When Was The Last Bitcoin Halving?

The last bitcoin halving happened on April 20, 2024, at the block height of 840,000. Bitcoin’s block reward was reduced from 6.25 to 3.125.

Here’s a table of Bitcoin Halving Dates

Halving count Date Block height at halving Block reward before halving(bitcoin per block) Block reward after halving(bitcoin per block)
1 2012-11-27 210,000 50 25
2 2016-07-09 420,000 25 12.5
3 2020-05-11 630,000 12.5 6.25
4 2024-04-20 840,000 6.25 3.125
5 2028-04-17 1,050,000 3.125 1.5625
6 2032 1,260,000 1.5625 0.78125
7 2036 1,470,000 0.78125 0.396025

How Does Bitcoin Halving Affect The Price of Bitcoin?

Halving is a double-edged sword, for different groups, it means different things.

For investors, halving means a reduction in the frequency at which new bitcoins are generated and less propensity for miners to sell. Historical data indicates a positive effect of the expected scarcity on the investors’ psychology. Investors expect a rise in the value of bitcoin and more buys could follow.

Past mining events have seen positive effects, however, the effect of halving events on bitcoin price is prone to variations, depending on prevailing market conditions.

Building up to the 2020 halving, bitcoin’s price rose about 40% thanks to investor behavior and the speculations that followed the event. Sequel to the halving, bitcoin’s value rose to three times its previous All-time-high, hitting a new high of $67,000.

For miners, halving ultimately means a reduced reward. Setting up and maintaining a bitcoin mining facility is a costly venture and miners expect the block rewards to at least offset these expenses.

When the reward is halved, miners’ revenue reduces by half. Considering the presiding values and cost of running a bitcoin mine, many miners might shut down their mining set-up if they are unable to maintain the facility with the calculated post-mining revenue.

As miners halt their activities, the mining hashrate is expected to drop. A decrease in mining hashrate could slow the bitcoin network and cause transactions on the blockchain to be executed later than they used to. Hashrate could return to former values if bitcoin’s price continues to rise and miners see profitability in running a mine again.

What Happens When All Bitcoins Are Mined?

You’ll certainly wonder how miners on the bitcoin network will be compensated for guarding the bitcoin blockchain when the bitcoin supply has been completely mined in the year 2140. When all bitcoins are mined, miners’ incentivization will be sustained by transaction fees paid by users of the bitcoin blockchain.
Select Currency
Suggested Currencies
USD
US Dollar
IDR
Indonesian Rupiah
TWD
New Taiwan Dollar
EUR
Euro
KRW
South Korean Won
JPY
Japanese Yen
RUB
Russian Ruble
CNY
Chinese Yuan
Fiat Currencies
AED
United Arab Emirates Dirham
ARS
Argentine Peso
AUD
Australian Dollar
BDT
Bangladeshi Taka
BHD
Bahraini Dinar
BMD
Bermudian Dollar
BRL
Brazil Real
CAD
Canadian Dollar
CHF
Swiss Franc
CLP
Chilean Peso
CZK
Czech Koruna
DKK
Danish Krone
GBP
British Pound Sterling
GEL
Georgian Lari
HKD
Hong Kong Dollar
HUF
Hungarian Forint
ILS
Israeli New Shekel
INR
Indian Rupee
KWD
Kuwaiti Dinar
LKR
Sri Lankan Rupee
MMK
Burmese Kyat
MXN
Mexican Peso
MYR
Malaysian Ringgit
NGN
Nigerian Naira
NOK
Norwegian Krone
NZD
New Zealand Dollar
PHP
Philippine Peso
PKR
Pakistani Rupee
PLN
Polish Zloty
SAR
Saudi Riyal
SEK
Swedish Krona
SGD
Singapore Dollar
THB
Thai Baht
TRY
Turkish Lira
UAH
Ukrainian hryvnia
VEF
Venezuelan bolívar fuerte
VND
Vietnamese đồng
ZAR
South African Rand
XDR
IMF Special Drawing Rights
Cryptocurrencies
BTC
Bitcoin
ETH
Ether
LTC
Litecoin
BCH
Bitcoin Cash
BNB
Binance Coin
EOS
EOS
XRP
XRP
XLM
Lumens
LINK
Chainlink
DOT
Polkadot
YFI
Yearn.finance
Bitcoin Units
BITS
Bits
SATS
Satoshi
Commodities
XAG
Silver - Troy Ounce
XAU
Gold - Troy Ounce
Select Language
Popular Languages
EN
English
RU
Русский
DE
Deutsch
PL
język polski
ES
Español
VI
Tiếng việt
FR
Français
PT
Português
All Languages
AR
العربية
BG
български
CS
čeština
DA
dansk
EL
Ελληνικά
FI
suomen kieli
HE
עִבְרִית
HI
हिंदी
HR
hrvatski
HU
Magyar nyelv
ID
Bahasa Indonesia
IT
Italiano
JA
日本語
KO
한국어
LT
lietuvių kalba
NL
Nederlands
NO
norsk
RO
Limba română
SK
slovenský jazyk
SL
slovenski jezik
SV
Svenska
TH
ภาษาไทย
TR
Türkçe
UK
украї́нська мо́ва
ZH
简体中文
ZH-TW
繁體中文
Login to track your favorite coin easily 🚀
By continuing, you agree to CoinGecko Terms of Service and acknowledge you’ve read our Privacy Policy
or
Forgot your password?
Didn't receive confirmation instructions?
Resend confirmation instructions
IT'S FREE! Track your favorite coin easily with CoinGecko 🚀
By continuing, you agree to CoinGecko Terms of Service and acknowledge you’ve read our Privacy Policy
or
Password must contain at least 8 characters including 1 uppercase letter, 1 lowercase letter, 1 number, and 1 special character
Didn't receive confirmation instructions?
Resend confirmation instructions
Forgot your password?
You will receive an email with instructions on how to reset your password in a few minutes.
Resend confirmation instructions
You will receive an email with instructions for how to confirm your email address in a few minutes.
Get the CoinGecko app.
Scan this QR code to download the app now App QR Code Or check it out in the app stores
coingecko
Continue in app
Track prices in real-time
Open App