Bitcoin halving explained
The halving is a built-in event that cuts the number of new Bitcoin paid to miners in half. It happens every 210,000 blocks, roughly every four years. The most recent one was in April 2024.
Why Bitcoin has halvings
New Bitcoin enters circulation as a reward to miners, who secure the network by adding blocks of transactions. Bitcoin's rules set this reward to fall by half every 210,000 blocks. Because of these halvings, the total supply can never exceed 21 million BTC.
Halving history
| Year | Block height | Reward before | Reward after |
|---|---|---|---|
| 2012 | 210,000 | 50 BTC | 25 BTC |
| 2016 | 420,000 | 25 BTC | 12.5 BTC |
| 2020 | 630,000 | 12.5 BTC | 6.25 BTC |
| 2024 | 840,000 | 6.25 BTC | 3.125 BTC |
| Expected around 2028 | 1,050,000 | 3.125 BTC | 1.5625 BTC |
The exact date of the next halving depends on how fast blocks are found, which is why it is given as an estimate.
What the reward is worth in rupees
At today's price, the current block reward of 3.125 BTC is worth Rs 73,748,554.00 or ₹2,54,25,323.19. Miners also earn the transaction fees in each block.
What a halving does and does not do
- It does slow the rate at which new Bitcoin is created.
- It does cut miners' income in BTC terms overnight, which can push less efficient miners out.
- It does not change how many sats are in a Bitcoin, or the Bitcoin you already hold.
- It does not guarantee any price move. Past price behaviour around halvings is not a reliable guide to the future, and CoinRate does not make price predictions.
When will the last Bitcoin be mined?
Rewards keep halving until they fall below one satoshi. That is expected around the year 2140. After that, miners will be paid by transaction fees only.
Frequently asked questions
How often does the Bitcoin halving happen?
Every 210,000 blocks, which works out to about every four years.
When is the next halving?
It is expected around 2028, at block 1,050,000. The exact date depends on block times.
Does the halving reduce the Bitcoin I own?
No. It only reduces the reward for mining new blocks.