Bitcoin Halving Countdown


Estimated date & time of reward drop: 22 March 2028

What Is Bitcoin Halving?

Bitcoin halving refers to an event that occurs approximately every four years on the Bitcoin network. It is a pre-programmed adjustment in the Bitcoin protocol that reduces the rate at which new bitcoins are created. During the halving, the number of bitcoins generated as a reward for mining new blocks is cut in half.

When Bitcoin was created in 2009, the initial block reward for miners was 50 bitcoins. In 2012, the first halving took place, reducing the reward to 25 bitcoins per block. The second halving occurred in 2016, decreasing the reward to 12.5 bitcoins. The most recent halving took place on April 20, 2024, reducing the reward to 3.125 bitcoins per block.

The purpose of the halving is to control the supply of new bitcoins entering circulation, thus creating scarcity. By reducing the block reward, Bitcoin's inflation rate decreases, and the total supply of bitcoins approaches its maximum limit of 21 million coins. This process is designed to mimic the scarcity and gradual release of precious metals like gold.

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 93.75% of bitcoin’s total supply has been mined. About 450 bitcoins are mined per day, currently.

Halvings also impact the incentives for miners. As the block reward decreases, miners receive fewer bitcoins for their efforts. This increases competition among miners and may lead to a consolidation of mining power or improvements in mining technology.

Overall, Bitcoin halving is a fundamental mechanism within the Bitcoin protocol that helps regulate the issuance of new bitcoins, maintain scarcity, and impact the economics of the network.

Past Halving Event Dates

  • The first halving event occurred on the 28th of November, 2012 (UTC) at block height 210,000
  • The second halving event occurred on the 9th of July, 2016 (UTC) at block height 420,000
  • The third halving event occurred on the 11th of May, 2020 (UTC) at block height 630,000
  • The fourth halving event occurred on the 20th of April, 2024 (UTC) at block height 840,000

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.


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 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