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Bitcoin Price: $98,117
0.80%
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All-Time High: $99,486.00
1.62%
- 24h High / 24h Low: $99,486 / $95,707
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Market Cap: $1,941,238,048,321 0.71%
- 24h Volume: $104,535,551,262
Bitcoin Halving Countdown
Time until next Bitcoin Halving
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Halving Date ETA: April 29, 2024
What is a Bitcoin block halving?
The Bitcoin halving is a recurring event in which the reward provided for newly mined Bitcoin blocks is halved. In other words halving is a deflationary mechanism to reduce the circulating supply of a cryptocurrency and to increase shortage.
How does the Bitcoin halving work? Where do I find the code?
As an essential function of the Bitcoin protocol, the recurring Bitcoin halving contributes to a gradual distribution of newly mined Bitcoins. The Bitcoin code specifies that the reward for validated bitcoin transactions is halved every 210,000 blocks. The initial reward at the start of the Bitcoin payment network was 50 Bitcoin.
The code can be found on Bitcoin Core Github.
How many Bitcoin halvings have there been in the past? Is there a Bitcoin halving overview?
The first Bitcoin halving took place on November 28, 2012. The block rewards were reduced to 25 Bitcoin. The second Bitcoin halving took place on July 9, 2016 and the block rewards were reduced to 12.5 Bitcoin. The third Bitcoin halving occurred on May 11, 2020. The current Bitcoin block reward is 6.25 Bitcoin.
The next Bitcoin halving (fourth halving) will take place at block 840,000 and the Bitcoin block rewards will be slashed to 3.125 Bitcoin. It is estimated that the next halving will take place in 2024.
For further Information, please see the table below:
| Halving | Estimated Date | Block Height | Block Reward |
| 0 | 03/01/2009 | 0 | 50 BTC |
| 1 | 11/28/2012 | 210,000 | 25 BTC |
| 2 | 07/09/2016 | 420,000 | 12.5 BTC |
| 3 | 05/11/2020 | 630,000 | 6.25 BTC |
| 4 | 2024 | 840,000 | 3.125 BTC |
| 5 | 2028 | 1,050,000 | 1.5625 BTC |
The maximum number of Bitcoin halvings is 32. From this point on, no more new Bitcoins are mined, as the maximum supply of 21,000,000 Bitcoin has been reached.
Why are Bitcoin halvings so important?
The Bitcoin halving is an essential element of the Bitcoin payment network, as it ensures that new Bitcoins are issued gradually and the creation of new Bitcoins follows a predictable decline rate. With this controlled monetary inflation rate, Bitcoin is diametrically opposed to traditional fiat currencies such as the U.S. dollar or the Euro, which typically have an unlimited supply.
Bitcoin Halving Factsheet
2024 Halving Date ETA
April 29, 2024
Circulating Supply
19,785,918
Maximum Supply
21,000,000
Bitcoin Halving Countdown
210,000 Blocks
Bitcoin Block Time
10 Minutes (avg.)
Bitcoin Mined per Hour
37.5 Bitcoin (avg.)
Bitcoin Mined per Day
900 Bitcoin (avg.)
Bitcoin Mined per Week
6,300 Bitcoin (avg.)
Bitcoin Mined per Month
27,000 Bitcoin (avg.)
Bitcoin Price
$98,117.00 0.80%
Bitcoin Market Cap
$1,941,238,048,321 0.71%
Feel free to check our cryptocurrency market data or our comprehensive blockchain glossary.
