Bitcoin Halving Countdown

Time until next Bitcoin Halving

0 Days
0 Hours
0 Minutes
0 Seconds

Halving Date ETA: July 5, 2024

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.

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.

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:

    
HalvingEstimated DateBlock HeightBlock Reward
003/01/2009050 BTC
111/28/2012210,00025 BTC
207/09/2016420,00012.5 BTC
305/11/2020630,0006.25 BTC
42024840,0003.125 BTC
520281,050,0001.5625 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.

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

March 28, 2024

Circulating Supply

19,118,350

Maximum Supply

21,000,000

Bitcoin Halving Countdown

210,000 Blocks

Bitcoin Block Time

10 Minutes

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

273 days

Bitcoin Price

$24,581.00 Coin is increasing 7.05%

Bitcoin Market Cap

$469,950,199,654 Coin is increasing 7.28%

Feel free to check our cryptocurrency market data or our comprehensive blockchain glossary.