Every ~4 years
Bitcoin halving: what it is and why it matters
Bitcoin halving is a programmed event that cuts the block reward (paid to miners) in half every 210,000 blocks — roughly every 4 years. The schedule reduces new supply over time toward a fixed cap of 21 million coins. Halvings have historically preceded major bull cycles, though future cycles may follow different patterns as the asset matures.
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Try calculatorKey takeaways
04 · ideas- Bitcoin maximum supply is capped at 21 million coins
- Halvings occur every 210,000 blocks, approximately every 4 years
- The block reward dropped from 50 BTC in 2009 to 3.125 BTC in 2024
- Miner revenue shifts over time from block rewards toward transaction fees
Bitcoin halving refers to a pre-programmed event where the reward given to miners for validating transactions is cut in half.
Bitcoin was designed with a fixed maximum supply of 21 million coins. New coins enter circulation as block rewards. The halving controls how quickly that happens.
| Year | Block reward |
|---|---|
| 2009 (launch) | 50 BTC |
| 2012 | 25 BTC |
| 2016 | 12.5 BTC |
| 2020 | 6.25 BTC |
| 2024 | 3.125 BTC |
| ~2028 | ~1.56 BTC |
Halvings continue until approximately 2140, when the last fraction of a bitcoin will have been mined.