The next halving
About every four years, the new bitcoin paid to miners is cut in half. Nobody decides when. It happens on its own at a set block number, and the next one is block 1,050,000.
Checking the latest block…
Why it matters
There will only ever be 21 million bitcoin. The halving is how they're released, a little more slowly each time. Picture a tap that's turned down every four years until it drips to a stop, around the year 2140.
Miners still earn the fees people pay, so the network keeps going. The date here is a best guess, because blocks arrive about every 10 minutes on average, sometimes faster and sometimes slower.
The 21 million, in numbers
The rules release bitcoin in 33 steps. Each step lasts 210,000 blocks, and each one pays miners half of the step before.
Every halving, start to finish
Past dates are real. Future years are estimates at 10 minutes a block. The reward halves until it rounds down to zero.
| Halving | Block | When | Reward after | Total mined by then |
|---|---|---|---|---|
| Start | 0 | 3 Jan 2009 | 50 BTC | 0 BTC |
| 1 Done | 210,000 | 28 Nov 2012 | 25 BTC | 10,500,000 BTC |
| 2 Done | 420,000 | 9 Jul 2016 | 12.5 BTC | 15,750,000 BTC |
| 3 Done | 630,000 | 11 May 2020 | 6.25 BTC | 18,375,000 BTC |
| 4 Done | 840,000 | 20 Apr 2024 | 3.125 BTC | 19,687,500 BTC |
| 5 Next | 1,050,000 | About 2028 | 1.5625 BTC | 20,343,750 BTC |
| 6 | 1,260,000 | About 2032 | 0.78125 BTC | 20,671,875 BTC |
| 7 | 1,470,000 | About 2036 | 0.390625 BTC | 20,835,937.5 BTC |
| 8 | 1,680,000 | About 2040 | 0.1953125 BTC | 20,917,968.75 BTC |
| 9 | 1,890,000 | About 2044 | 0.09765625 BTC | 20,958,984.375 BTC |
| 10 | 2,100,000 | About 2048 | 0.04882812 BTC | 20,979,492.1875 BTC |
| 11 | 2,310,000 | About 2052 | 0.02441406 BTC | 20,989,746.0927 BTC |
| 12 | 2,520,000 | About 2056 | 0.01220703 BTC | 20,994,873.0453 BTC |
| 13 | 2,730,000 | About 2060 | 0.00610351 BTC (610,351 sats) | 20,997,436.5216 BTC |
| 14 | 2,940,000 | About 2064 | 0.00305175 BTC (305,175 sats) | 20,998,718.2587 BTC |
| 15 | 3,150,000 | About 2068 | 0.00152587 BTC (152,587 sats) | 20,999,359.1262 BTC |
| 16 | 3,360,000 | About 2072 | 0.00076293 BTC (76,293 sats) | 20,999,679.5589 BTC |
| 17 | 3,570,000 | About 2076 | 0.00038146 BTC (38,146 sats) | 20,999,839.7742 BTC |
| 18 | 3,780,000 | About 2080 | 0.00019073 BTC (19,073 sats) | 20,999,919.8808 BTC |
| 19 | 3,990,000 | About 2084 | 0.00009536 BTC (9,536 sats) | 20,999,959.9341 BTC |
| 20 | 4,200,000 | About 2088 | 0.00004768 BTC (4,768 sats) | 20,999,979.9597 BTC |
| 21 | 4,410,000 | About 2092 | 0.00002384 BTC (2,384 sats) | 20,999,989.9725 BTC |
| 22 | 4,620,000 | About 2096 | 0.00001192 BTC (1,192 sats) | 20,999,994.9789 BTC |
| 23 | 4,830,000 | About 2100 | 0.00000596 BTC (596 sats) | 20,999,997.4821 BTC |
| 24 | 5,040,000 | About 2104 | 0.00000298 BTC (298 sats) | 20,999,998.7337 BTC |
| 25 | 5,250,000 | About 2108 | 0.00000149 BTC (149 sats) | 20,999,999.3595 BTC |
| 26 | 5,460,000 | About 2112 | 0.00000074 BTC (74 sats) | 20,999,999.6724 BTC |
| 27 | 5,670,000 | About 2116 | 0.00000037 BTC (37 sats) | 20,999,999.8278 BTC |
| 28 | 5,880,000 | About 2120 | 0.00000018 BTC (18 sats) | 20,999,999.9055 BTC |
| 29 | 6,090,000 | About 2124 | 0.00000009 BTC (9 sats) | 20,999,999.9433 BTC |
| 30 | 6,300,000 | About 2128 | 0.00000004 BTC (4 sats) | 20,999,999.9622 BTC |
| 31 | 6,510,000 | About 2132 | 0.00000002 BTC (2 sats) | 20,999,999.9706 BTC |
| 32 | 6,720,000 | About 2136 | 0.00000001 BTC (1 sat) | 20,999,999.9748 BTC |
| 33 | 6,930,000 | About 2140 | Zero | 20,999,999.9769 BTC |
Estimate only, based on 10 minutes per block. Live block height from mempool.space. General information only, not financial advice.
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